Originally published April 15, 2009 at 10:01 PM | Page modified April 15, 2009 at 10:02 PM
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Fred Hutchinson lays off 83 workers
Seattle
A drop in investment income and philanthropic donations led Seattle's Fred Hutchinson Cancer Research Center to issue layoff notices to 83 administrative and technical-support workers Wednesday. The reductions represent 3 percent of the center's work force.
"The recent global economic downturn poses unprecedented financial challenges for biomedical research institutions nationwide," said Lee Hartwell, the center's president and director.
Much of the center's funding comes from federal research grants and contracts, which are still holding steady, Hartwell said. Donations and investment income make up about 10 percent of the center's revenue, and 40 percent of its discretionary funds.
Charitable donations are down about 50 percent, or $14 million. The center's investment income has dropped by about $10 million.
Copyright © 2009 The Seattle Times Company
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