ST. LOUIS (AP) -- Washington University's chancellor says he will take a 5 percent salary cut, postpone or eliminate building projects, restrict hiring and slow faculty salary increases to ensure the institution's strength during the nation's economic downturn.

Chancellor Mark Wrighton made the announcement in an email to the university community on Wednesday.

He said the value of the university's endowment has declined 25 percent since July 1, and research support was expected to level.

He said the university also faces constraints on the rate of tuition growth, uncertain prospects for philanthropic support, pressures on healthcare costs, and the prospect of increased needs for financial aid.

On Monday, the University of Missouri system imposed a hiring freeze at all four campuses.

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