President Ikenberry: We’ve made $65 million of budget cuts, in addition to the furloughs. We’ve got a hiring freeze on, so we’ve taken a number of steps to deal with the cash crisis, but those steps are also related to our fear of what will becoming down the pike next year.
DI: Do you have any idea of how many people you expect to be laid off or when this decision will be made?
President Ikenberry: No clear idea. Of course, there are about 11,000 people involved in the furloughs, but right now the number of layoffs I hope will be modest. That’s part of the reason for the hiring freeze — to help minimize layoffs. If we don’t increase the size, if we don’t fill open positions, that’s a way to manage the crisis. The answer to your second question is no, I don’t know what the number is going to be, and (that’s) partly because we don’t know the depth and duration and severity of the crisis. Back to your question, ‘How bad could it get?’ We don’t know.
