Harvard University is postponing nearly all ongoing searches for tenure-track professors in its largest academic body, the Faculty of Arts and Sciences.
Some say the move could have a ripple effect across all of higher education.
The announcement follows word that Harvard's endowment has lost $8 billion since last summer, and is expected to fall 30 percent in value by the end of the fiscal year.
This program aired on December 10, 2008. The audio for this program is not available.