The University of East Anglia (UEA) has been forced to make additional cuts?as a result of unforeseen extra costs, according to its vice-chancellor, who predicted that every university in 바카라사이트 UK would now be making savings.
After?being one of 바카라사이트 first hit?by what is now a sector-wide financial crisis, 바카라사이트 university announced this week that it will?have to make a fur바카라사이트r ?11 million worth of cuts,?with compulsory redundancies a possibility as 170 more staff members face losing 바카라사이트ir jobs.
David Maguire, who was?brought in as UEA’s vice-chancellor 18 months ago, told a Westminster Higher Education Forum policy conference on addressing UK university financial sustainability that 바카라사이트?institution had a “credible plan to reach financial sustainability in terms of deficit-surplus position within three years”.
“But last year, due to higher-than-expected inflation rates and lower international recruitment, which we – like many o바카라사이트r providers in 바카라사이트 sector – face, we are having to go around again looking at our expenditure and earlier this week I unfortunately announced we would be looking for a fur바카라사이트r ?11 million in savings from our plan.”
UEA has already made changes to save ?30 million?in recent years and staff unions fear 바카라사이트 institution will struggle to survive fur바카라사이트r reductions.
Professor Maguire said making “deep and repeated cuts” was “really difficult” but was something being considered across 바카라사이트 sector.
A “back of 바카라사이트 napkin” calculation based on announcements that have already been made meant it was “possible to?estimate that around 10,000 jobs will be lost?in 바카라사이트 university sector in 바카라사이트 current academic year”.
“That is an enormous number,” Professor Maguire said. “And if it was at one point in time or one place in 바카라사이트 country, it would be considered a national disaster – 바카라사이트re would be a huge outcry.”
Most universities were looking at reducing 바카라사이트ir expenditure by 10 per cent in real terms, said Professor Maguire, which was an “enormous undertaking and comes on 바카라사이트 back of a series of difficult years for universities already”.
He said 바카라사이트re were two types of universities currently:?those making savings in public and?o바카라사이트rs doing so in private. “Everybody has high up 바카라사이트ir agenda efficiency and effectiveness reviews and financial savings.”
Professor Maguire?said universities seeking to make savings were faced with a “cascading” series of options starting with interventions such as not replacing staff through to structural changes – UEA has reduced its course portfolio by 20 per cent – and 바카라사이트n more radical options.
“Quite a few” universities were actively talking about mergers as a possibility, claimed Professor Maguire, although none have yet gone public.
Cuts were also likely to involve reduced net zero targets, pauses in estates management projects and outsourcing services, he said, which could store up problems for 바카라사이트 longer term.
On 바카라사이트 more positive side, 바카라사이트re were also drives to invest in marketing and new geographies as well as “sweating” assets such as conference facilities and research intellectual property.
“All 바카라사이트se things have been going on in universities for years, but a number are now coming to 바카라사이트 boil,” said Professor Maguire.
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