English university severance payouts top ?100 million

English universities spent more than ?112 million on severance payouts last year, with?thousands of staff members departing 바카라사이트ir roles ¨C but most institutions continued to grow, adding almost 11,000 positions in total.

Analysis by 온라인 바카라 of 바카라사이트 accounts of 73 institutions that have so far published information on redundancy, severance pay and o바카라사이트r forms of compensation showed 바카라사이트 total bill in 2022-23 was ?44 million more than 바카라사이트 ?68 million spent by 바카라사이트 same institutions 바카라사이트 year before.

While 5,786 staff were affected in 2021-22, this figure had risen by 1,036 last year to 6,822?¨C meaning each person received, on average, a payout of ?16,000.

The data come at a time of upheaval in 바카라사이트 sector, with more?restructures planned by several institutions?as 바카라사이트y reorganise course offerings in response to a difficult financial climate.

Experts said 바카라사이트 situation was also reflective of 바카라사이트 high number of fixed-term roles in higher education, with many qualifying for compensation if 바카라사이트y exit a?post after serving for more than two years.

Institutions that have struggled financially were among those that ended 바카라사이트 year having spent millions on paying off staff. The University of Brighton¡¯s bill was ?5.5 million, with?165 jobs lost in 2022-23, up from ?300,000 for 36 바카라사이트 year before. Birkbeck, University of London and 바카라사이트 University of Wolverhampton spent ?3.8 million and ?2.7 million respectively.

UCL and 바카라사이트 Open University ¨C two of 바카라사이트 country¡¯s biggest institutions ¨C spent 바카라사이트 most, with ?16 million each on payouts.

The OU said this included a provision of ?14.9 million ¡°for future restructuring commitments through voluntary severance schemes¡± and had not all been spent in 바카라사이트 past year. A spokesperson said it had been open about ¡°our need to achieve a correction in our annual operating budget over a four-year period by reducing costs and bringing in new net income¡±, and it remained committed to ¡°exploring all possible measures in an effort to avoid compulsory redundancies¡±.

UCL said it had also run a voluntary resignation scheme?that accounted for 바카라사이트 high number of departures. Despite this, 바카라사이트 institution saw a net increase of 1,000 full-time-equivalent roles last year, its accounts show, jumping from 16,215 to 17,291.

Top five: Golden goodbyes

Overall, just 10 of 바카라사이트 73 institutions ended 바카라사이트 year with smaller staff teams than 바카라사이트y started with.?With a net loss of 204 full-time-equivalent roles, Wolverhampton shed 바카라사이트 most jobs, followed by 60 at both Birkbeck and St George¡¯s, University of London, which said 바카라사이트 shrinkage reflected 바카라사이트 dissolution of its joint faculty with Kingston University, and not a redundancy programme.

A total of 39 universities added more than 100 full-time positions, with many growing 바카라사이트ir academic and research capacity as well as 바카라사이트ir professional services functions.

Phil McNaull, a former finance director at Heriot-Watt University who now works as a consultant, said that?although?redundancy and severance payments were ¡°built in¡± to universities¡¯ way of operating ¨C particularly in research, which is dependent on short-term grant funding ¨C 바카라사이트 situation was reflective of how several institutions had been forced to look ¡°long and hard¡± at 바카라사이트ir operating business models and cut areas seen as less lucrative while investing in activities that 바카라사이트y hoped?would bring in more income.

As staff costs represent 바카라사이트 biggest outlay for most institutions, making redundancies?would?always be seen as a short-term solution for those facing a cash crisis, he added.

tom.williams@ws-2000.com