Stanford University will lay off at least 363 employees this fall as part of $140 million in budget cuts driven by rising costs and changes in federal funding policies, including a steep revision to the endowment tax.

Amid a $140 million budget shortfall, the University has begun widespread layoffs, with 363 staff affected so far.

In the letter, Stanford University cited "ongoing economic uncertainty," looming federal cuts and rising operational costs as the reasons for the staffing cuts. The university has also made a $140 million budget cut in its general fund for the 2025-26 school year, as SFGATE previously reported.