Coronavirus: Stanford stops all faculty searches, institutes hiring pause due to COVID-19

Stanford announced Thursday it is instituting a hiring pause for all faculty and staff positions as the “university is anticipating that the COVID-19 pandemic will have a significant impact on Stanford’s financial picture.”

Stanford also said a new tenure clock extension policy for the university’s untenured faculty has been instituted.

Citing market volatility that’s expected to affect endowment payout that supports Stanford’s budget, Stanford provost Persis Drell has asked the university deans to pause all faculty searches.

Provost Drell will permit hiring processes to continue if “discussions have taken place with the finalist about terms of the offer,” or if a formal offer has been extended to a candidate for a faculty position, but any pending offer for a staff position must be put on hold immediately.

On August 31, 2019, the end of the university’s fiscal year, Stanford reported its endowment was $27.7 billion.

After the Stanford Management Company generated a 6.5 percent investment return from June 30, 2018-June 30, 2019, the company’s chief executive officer Robert Wallace reported $1.8 billion of investment gains for the year.

Outside of concerns regarding market volatility, Stanford also noted many revenue-generating programs supporting the university’s operation have been “curtailed.”

On Tuesday, a university official confirmed two dozen individuals with ties to Stanford have tested positive for COVID-19.

“This figure includes both individuals tested at Stanford as well those who have been tested elsewhere and have self-reported their results to the university,” wrote Russell Furr, associate vice provost of environmental health and safety. “It includes students who have left the Stanford area and returned to their homes. It also includes School of Medicine employees, including those working in clinical settings.”

The one-year tenure clock extension Stanford announced Thursday applies to all “faculty holding tenure-accruing appointments, with the exception of those currently in a terminal year appointment and whose tenure-conferring promotion or reappointment process commenced prior to January 1, 2020.”

The tenure clock extension is not automatic and must be requested.

On March 10, Stanford president Marc Tessier-Lavigne announced the university’s spring quarter would begin with virtual instruction instead of in-person classes. On March 19, the university announced all spring quarter classes would be taught online for the duration of the quarter.

To accommodate for the changes, Stanford pushed back the start of its spring quarter one week, from March 30 to April 6. The quarter will still end on June 10, but the university says there will be no traditional final exam period.

Source: mercurynews
Coronavirus: Stanford stops all faculty searches, institutes hiring pause due to COVID-19