Layoffs Are Expected at Princeton U.

Princeton University’s president, Shirley M. Tilghman, sent an e-mail message Tuesday warning staff members to expect layoffs this fall, thanks to a 22.7-percent drop in the university’s endowment, The Daily Princetonian reports. The university depends on its endowment — which in June 2008 was valued at $16.3-billion, but is now valued at $12.6-billion — to help cover 48 percent of its daily operating expenses, the student newspaper notes. There’s no word yet on which positions will be cut, but Ms. Tilghman told the newspaper that she hoped the 145 Princeton employees who opted to take the early-retirement package that the university began offering last spring will help to minimize the cuts.