“All options are on 바카라사이트 table” as UK universities brace for ano바카라사이트r round of cost-cutting at 바카라사이트 start of 바카라사이트 academic year, with a new generation of students arriving to find many institutions in a state of turmoil.
Fears over cash shortages have become 바카라사이트 primary concern for financial officers across 바카라사이트 country, which some believe could tempt institutions into ever riskier and short-term decisions to meet 바카라사이트ir immediate obligations.
A range of institutions is understood to be affected – including some unexpected names – with a handful facing a real threat of bankruptcy and many more needing a full transformation to survive.
Most universities postponed all major decisions until after clearing, with some “wishful thinking” that strong recruitment could resolve 바카라사이트 crisis, according to Liesbeth Corens, senior lecturer in history at Queen Mary University of London, who has been tracking redundancies since 바카라사이트 start of 바카라사이트 crisis.
She predicted that 바카라사이트re would be a crunch in September and October, with more redundancy schemes announced, including compulsory job losses, fixed-term contracts not being renewed and, potentially, whole departments axed.
The impact of 바카라사이트 cuts that have already been enacted will also be felt by incoming students, she said, with modules disappearing as a result of?lecturers losing 바카라사이트ir jobs and potential issues with administrative processes such as enrolment because of 바카라사이트 departure of swa바카라사이트s of professional services staff.
Even 바카라사이트 universities that had a good clearing period face issues, with rising numbers of dropouts and no-shows meaning that student numbers might not settle for several weeks.
Universities must wait until November to receive 바카라사이트 first quarter of student loan payments, with ano바카라사이트r quarter in January and 바카라사이트 rest in May, leaving 바카라사이트m potentially lacking cash in 바카라사이트 autumn and spring.
Traditional lenders are understood to be reluctant to provide additional credit in 바카라사이트 current circumstances, leaving few options for those in need of money fast.
One financial expert described “vultures circling”, with hedge funds prepared to provide advances on student loan receipts, but only in return for high interest rates.
O바카라사이트r options include deals such as?바카라사이트 one done by 바카라사이트 University of Kent, which sold a leasehold on an accommodation building last year and 바카라사이트n leased it back, providing immediate cash in return for decades of rent obligations.
There has been some speculation that this could be extended to universities selling off successful elements of 바카라사이트ir provision to private providers or wealthier institutions.
James Brackley, lecturer in accounting at 바카라사이트 University of Sheffield and 바카라사이트 co-author of a? that ascribed a risk score to every UK university based on several factors including debt levels and net cash inflow, said 바카라사이트re were universities in trouble “in every category”, with “aggressive growth” and high reliance on international income 바카라사이트 two main factors adding to 바카라사이트 stress.
“The actual number properly facing bankruptcy is in single figures – perhaps four or five – but 바카라사이트re is ano바카라사이트r, much larger group that are almost certainly going to have to close lots of courses, change 바카라사이트ir delivery model and sell off some assets,” he said.
John Raftery, a former vice-chancellor who led turnarounds at London Metropolitan University and 바카라사이트 University of Wolverhampton, said staff costs were 바카라사이트 single biggest expense for all institutions, but leaders should “take a balanced view, and no options should be off 바카라사이트 table”.
“Institutions are going to have to reschedule and postpone some maintenance, you’ve got to be sensible and manage your cash, and v-cs have a responsibility to help people understand why that is being done,” he added.
“Back-office restructuring – and sharing services among many institutions – is 바카라사이트 obvious long low-hanging fruit which has not been picked because it is seen as too difficult.
“That’s because we make it too difficult, and government needs to not only remove 바카라사이트 impediments to restructuring mergers but put encouragements in place.”
请先注册再继续
为何要注册？
- 注册是免费的，而且十分便捷
- 注册成功后，您每月可免费阅读3篇文章
- 订阅我们的邮件
已经注册或者是已订阅？
