At a time when Stanford is firing employees to save money, newly released IRS documents show the university paid 18 employees $1 million or more in the previous fiscal year.
Stanford announced in July that it was laying off 363 employees this fall as part of a $140 million budget cut caused by reduced federal research funding and a higher endowment tax.
Stanford Management Company CEO Robert Wallace, who handles the university’s investments, was the highest-paid employee last year with a salary of $6.3 million, IRS forms show.