1. Colleges and universities are contracting the ranks of professors by releasing contractually-hired lecturers and freezing new hires for academic departments.
2.Traveling expenses to academic conferences are being cut by institutions, and grant monies for travel are being cut back or removed entirely.
3.Grant funding from private endowments will drop for the coming years as the percentage of proceeds from endowment investments goes negative.
4.Libraries are cutting expenses by pulling back on book orders and journal subscriptions.
Check out Marti’s blog to see how he develops each one of these points.
So far, I have experienced some of #1 and #2.