University of Chicago to cut spending by $100M, reduce staff by 400

CHICAGO - The University of Chicago leaders announced last week that they aim to reduce spending by about $100 million a year, resulting in the reduction of its staff by about 400 workers, in the wake of the loss of federal funding.

What we know:

University of Chicago President Paul Alivisatos wrote in an announcement that the staff reductions are aimed at putting the institution on a more stable financial footing.

Despite managing ongoing budget challenges in recent years, he wrote, the "federal policy changes" are creating "new financial liabilities."

"The sheer number and scale of such potential losses–even if only one or two were to materialize fully–and the ongoing uncertainty mark a substantial change," Alivisatos wrote. "There is no way to navigate this new environment witho