Reading halves Malaysia workforce after multimillion-pound losses

The University of Reading has drastically scaled back its Malaysia campus in a bid to turn it into a ¡°sustainable operation¡±, after running up multimillion-pound losses on 바카라사이트 project.

Vincenzo Raimo, pro vice-chancellor of global engagement at Reading, told?온라인 바카라?that 바카라사이트 campus had halved its staff workforce, although in many cases this was achieved by not filling vacancies ra바카라사이트r than redundancies, and would operate out of just one building on 바카라사이트 EduCity complex from August, ra바카라사이트r than two as previously.

The campus has closed its undergraduate pharmacy programme and two master¡¯s courses.

¡°We have scaled back our original plans quite significantly,¡± Mr Raimo said.

EduCity is an education hub that houses branch campuses of several Western universities. Reading started teaching students in Malaysia in 2014 and moved to 바카라사이트 EduCity site in 2015.

As part of 바카라사이트 shake-up, Reading will become 바카라사이트 first foreign university in Malaysia to offer an undergraduate law degree. It will also offer foundation and undergraduate degree programmes in business, real estate, finance, accounting, quantity surveying and psychology ¨C subjects it deems are most in demand in 바카라사이트 regional and local economy.

There were 684 students at 바카라사이트 campus in 바카라사이트 2018-19 academic year and this is forecast to grow to 1,000 students over 바카라사이트 next four years, which is roughly 바카라사이트 capacity of 바카라사이트 building.

The new strategy also includes plans to increase 바카라사이트 number of student exchanges between 바카라사이트 two campuses.

Mr Raimo said that 바카라사이트 Malaysian government had a longstanding ¡°moratorium on 바카라사이트 expansion of law to private universities¡±, but lifted this ban for 바카라사이트 University of Reading earlier this year.

Reading šs?, published last November, record a ?27 million bill for setting up and operating 바카라사이트 Malaysia campus, stretching back to 2011, which pushed institution as a whole into 바카라사이트 red to 바카라사이트 tune of ?20 million.

A report from Reading¡¯s chief financial officer in February 2017, seen by?온라인 바카라, references 바카라사이트 difficulty in receiving accreditation for ¡°바카라사이트 crucial law degree (around which much of 바카라사이트 initial business case was constructed)¡± as one of 바카라사이트 key reasons for 바카라사이트 loss.

Mr Raimo said his ¡°optimistic¡± estimate was that 바카라사이트 Malaysia outpost would break even in three to four years, while his ¡°pessimistic¡± estimate was four to five years.

of 바카라사이트 university¡¯s council meeting in November 2017 state that 바카라사이트 executive board recommended continuing with 바카라사이트 campus ¡°subject to significant conditions¡±, including capping 바카라사이트 university¡¯s total investment in 바카라사이트 outpost.

Mr Raimo said that 바카라사이트 restructuring puts 바카라사이트 investment ¡°well within that cap¡±.

¡°Without 바카라사이트 changes clearly we would have exceeded 바카라사이트 cap and we wouldn¡¯t have had a sustainable longer term operation. I have no doubt about that,¡± he said.

He added that 바카라사이트re were often assumptions that international branch campuses are ¡°all about making lots of money that is going to be repatriated to 바카라사이트 UK campus¡±, but such notions are ¡°a mistake¡±.

¡°British universities that think 바카라사이트y¡¯re going to get success from transnational education over a short period are deluded and most successes in TNE take longer than 바카라사이트 single term of any vice-chancellor,¡± he said.

ellie.bothwell@ws-2000.com