St. Louis – Washington University's chancellor says the institution needs to cut $30 million from its budget to make up for an expected shortfall.
Mark Wrighton announced the need for the cuts in an e-mail to faculty and staff Wednesday.
The shortfall primarily affects the main campus, not the medical school.
The university's endowment is down 30 percent from its peak value two years ago.
The shortfall is significant, but Wrighton said other universities face financial problems that are even more serious.
Decisions on cuts will be made by the end of the year and announced early next year.