Villanova to freeze wages and hiring

Inquirer staff writer Susan Snyder reports:

Villanova University today announced a hiring freeze and wage freeze for faculty and staff through May 2010.

"Labor costs make up more than half of the University's annual budget and as we seek to achieve efficiencies in how we operate, this is an area which must be addressed," the Rev. Peter Donohue, Villanova's president, wrote in an e-mail to faculty and staff.

Any non-union staffer earning $60,000 a year or less will receive a $1,500 stipend in June. Wage increases in union contracts will be honored.

University officials said the school is taking the steps to cope with the stagnant economy. The university's endowment was $253 million as of Dec. 31, a 25 percent decline from the previous six-month period.

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