Enterprise: Layoffs coming for Trudeau Institute
Chris Knight at the Adirondack Daily Enterprise is reporting that layoffs are coming for scientists and support staff at Trudeau Institute in Saranac Lake.
Just how many of Trudeau’s roughly 130 employees will be affected remains unclear.
In an interview with the Enterprise this morning, Woodland wouldn’t say how many staff and scientists would lose their jobs, although he said none of Trudeau’s lead research teams will be affected. Woodland said the belt tightening is part of the normal “ebb and flow” in Trudeau’s grant funding cycle.
This announcement follows on the heels of Trudeau’s announcement that it will remain anchored in the Adirondacks. Chris Knight will have a full report on these latest developments tomorrow morning during NCPR’s 8 O’clock Hour.
Tags: economy, Trudeau Institute
What is the size and draw on the institute’s endowment? Many not-for-profit research institutes have taken a beating over the last few years with the stock market hit. That has improved but since most institutions use a “trailing” average method for their endowments the effects of a down-turn continue to hit even after an up-swing has started. Most of the non-research staff that are on what we call “hard money” are more likely to be affected. For the others if they don’t have grant money (“soft money”) they have to let their folks go anyway. The problem is that in a place like Saranac Lake there are not too many other opportunities nearby. You have to leave the area and then come back when things improve, not easy to do.