UNC cuts jobs, pauses $218M project in response to federal funding cuts

• The Triangle Business Journal first reported the update.

Driving the news: Last month, Nate Knuffman, UNC's vice chancellor for Finance and Operations, revealed at a UNC Board of Trustees meeting that the school had paused plans for its Translational Research Building.

Zoom in: The 160,000-square-foot building, valued at about $218 million, is expected to add more lab space for researchers near the university's medical school. Construction was expected to begin this year.

• Knuffman also said UNC has eliminated 77 research positions due to the termination of their grants. He noted that was a relatively small number given the university employs thousands of researchers.
• The university also has 300 fewer job postings than last year, as part of an effort to make the campus more efficient, according to Knuffman.

What they're saying: "We are currently evaluating our research infrastructure, including our research facilities, and will continue to monitor funding trends. Scenario planning is underway to help us remain prepared for future opportunities," the university said in a statement to Axios.

The big picture: The Triangle's economy remains vulnerable to changes in how the federal government funds research — with the potential reduction of indirect costs for research and the reduction of grant awards in general.

• Already, Duke is planning to make cuts to its workforce and RTI International, a research firm in Research Triangle Park, has made three rounds of layoffs.