News of the WeekSCIENCE PHILANTHROPY

Hughes Cuts Researcher Grants As Endowment Takes a Hit

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Science  22 Nov 2002:
Vol. 298, Issue 5598, pp. 1530-1531
DOI: 10.1126/science.298.5598.1530

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Summary

After enjoying years of soaring research spending fueled in part by an economic boom, some life scientists are being told to tighten their belts. A major blow landed last week, when the Howard Hughes Medical Institute, one of the world's largest private research philanthropies, confirmed that it will trim spending by about 10%, or $100 million, over the next 2 years.