The Chronicle News Blog: 9 Tenured Faculty Members Are Laid Off at San Francisco Art Institute
The San Francisco Art Institute has laid off nine tenured faculty members in the latest in a series of cutbacks aimed at stemming the institute’s cash-flow problems.
The financial crisis and credit crunch have hit the institute particularly hard, said Bob Gamboa, a spokesman. Lenders have been stingy since 30 percent of its endowment disappeared last fall in the stock-market crash. Since then, the institute has taken a number of belt-tightening measures, including a blanket salary freeze for nonunion faculty and staff members, compulsory furloughs during semester breaks, and a 25-percent pay cut for senior administrators.
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