The student:staff ratio at Harvard Business School will be taking a hit after it laid off staff and then announced a record intake for its MBA programme. Sixteen staff are being made redundant by the school, which has seen its $3bn endowment fund hit by the economic crisis. The total number of jobs lost will be increased once the non-replacement of retiring and temporary employees is taken into consideration. However, no faculty will affected.
The downturn has not been all bad news for HBS, though. On the positive side, the school’s 2011 MBA programme will be the largest ever, with 942 students already enrolled—42 more than the last intake—which it is attributing, at least in part, to uncertain times. A sluggish job market often leads to more people taking MBAs. Indeed a high proportion of enrolees have come from the beleaguered financial services sector.
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