University of Chicago slashes spending by $100 million

The University of Chicago announced a string of budget cuts Thursday, slashing spending by $100 million in an effort to plug its mounting structural deficit.

In emails to faculty, school officials outlined a broad slate of reductions, including cuts to hiring, Ph.D. programs, master’s degree programs and construction projects.

“Our annual income still falls short of our expenses. That is not something that we can allow to persist,” President Paul Alivisatos wrote.

U. of C. has struggled for years to balance its books. The university recorded a $288 million deficit in 2024 — even after dipping into its $10.4 billion endowment.

Unprecedented federal pressures have only exacerbated those financial woes, according to school officials. The university cited cuts to federal research funding,