As the economic recession takes hold, public and private universities alike are facing budget cuts forced by state revenue shortfalls and declining endowment values. In response, chemistry departments are freezing hiring and trimming budgets for seminars and equipment; they also may have to reduce graduate student enrollment.
States have been hit hard by the recession, with some reporting revenue shortfalls of billions of dollars. The University of Wisconsin, Madison, could be looking at a cut of 10â??15% for 2009.
The budget cuts come on top of what has been a particularly difficult period for federal research funding, says UW Madison chemistry Chair Robert J. Hamers. He adds that the Wisconsin Alumni Research Foundation, which handles patent royalties and typically has funds available as a short-term safety net for faculty who lose funding, has also suffered from investment losses