MBA News: London Business School to Close Research Center
May 19th, 2009
London Business School has announced that will close its Center for Women in Business next month. Because of the recent meltdown in the investment banking world, Lehman Brothers can no longer fulfill a promise to fund the center to the tune of 1.75 million pounds. Unless a large corporate sponsor steps up, the center and its mandate to research and promote diversity in business throughout Europe will come to an end. Last year, we noted that many Business Schools will face challenges as a result of shrinking endowments and sponsorships. Of course, we hoped that time would prove us wrong. For now, after Stanford announced cutbacks and HBS told alumni that it would add classroom seats to generate funds, we suspect that more surprising news with regard to funding issues is likely still to come.
