CBS is going to fire up to 80 tenured faculty members across all depts (out of a total of 748 faculty members -- tenured + untenured) by February 5th 2015.
At the Finance Dept, newly hired profs Andreas Park and Katya Malynova just resigned in protest. They say they can't stay in a place where tenure does not mean tenure. By Danish labor law, tenure just means a contract without end date. There is no tenure in the American sense.
The Finance Dept at CBS has a couple of positions on the market and they go to the ASSA meetings to interview. But the reality is that they are not sure at all they are going to be able to fulfill offers they eventually make. By Danish labor law, they cannot really hire at the same time of massive lay-offs.
And even if they hire, tenure-track is a bit of a joke, since there is no real tenure.
The economics dept at CBS was more prudent and they pulled away from the market this year.
Anyone knows more on this? Situation is really bleak and worrysome.