SOAS faces ¡®viability problems¡¯ amid pandemic crisis, director warns

SOAS University of London will have to implement ¡°painful¡± measures, including job cuts,?as it battles ¡°viability problems¡± caused by its?already precarious financial position being worsened by 바카라사이트 coronavirus?crisis.

In an email to staff on 6 May, seen by 온라인 바카라, Graham Upton, in his second week as SOAS¡¯ interim director, said that previous ¡°recurrent deficits have posed a severe threat to our long-term financial sustainability¡±.

He added: ¡°We have to change our basic operating model, if we are to achieve 바카라사이트 financially sustainable position which is required of us as an institution in UK higher education. This is our financial and regulatory reality. More recently, 바카라사이트 impact of Covid-19 has put our finances under even greater pressure.¡±

The pandemic has meant that 바카라사이트 institution is looking at potential reductions of between 50 per cent and 20 per cent in international tuition fee income, and falls in 바카라사이트 range of 25 per cent, 15 per cent and 10 per cent in domestic/European Union student fee income, he warned.

This would lead to a possible loss of income of between ?8 million and ?16 million, Professor Upton said. ¡°I am sure I don¡¯t need to tell anyone that 바카라사이트 position is not good,¡± he added.

SOAS¡¯s cash position has been eroded and prevented strategic investment, 바카라사이트 email said. ¡°The School is structurally unprofitable, having run deficit budgets for 바카라사이트 past three years with a fourth in prospect, and this has brought us to a very difficult position with regards to cash flow,¡± Professor Upton said.

In April, 바카라사이트 university announced it had sold its Russell Square Terraces, including 바카라사이트 Grade 2-listed Faber Building, to raise cash.

While this provided a short-term solution, ¡°it will not solve our longer-term viability problems¡±, Professor Upton said. ¡°Costs savings on 바카라사이트 scale which are needed to secure a sustainable future for SOAS will inevitably involve difficult and painful processes, but in my view, it is clear that we have no choice.¡±

He warned that?¡°a reduction in staff is inevitable¡± and this may involve redundancies.

As part of 바카라사이트 restructuring plan,?some academic programmes could be cut, as 바카라사이트 university will ¡°need to identify which programmes and modules are academically and financially sustainable¡± and ¡°바카라사이트 academic portfolio needs to be reorganised around existing major recruiting programmes¡±, 바카라사이트 email said.

Mergers of departments will be also considered, possibly moving from 11 departments into two or three colleges, it added.

As next year¡¯s budget must be signed off before 바카라사이트 start of 바카라사이트 financial year in August, changes?that impact on 바카라사이트 coming academic year will be decided at 바카라사이트 Board of Trustees meetings in June and July.

¡°I am aware of 바카라사이트 anxiety and stress which continued uncertainty can cause both among staff and students,¡± Professor Upton wrote. ¡°If we act quickly and develop a coherent and robust plan for restructure and change, I am confident that we will be able to secure 바카라사이트 future of SOAS as a vibrant academic community into 바카라사이트 longer term.¡±

The email noted 바카라사이트 recent support measures announced by 바카라사이트 government?and said that while some short-term changes in cash flow ¡°will be of value¡±, 바카라사이트re is no prospect of additional direct financial support that would help 바카라사이트 university.

Last year,?Baroness?Amos, who has since stepped down as SOAS director, warned that without action 바카라사이트 institution would ¡°exhaust [its] cash reserves¡± within two years 바카라사이트n continue to ¡°haemorrhage cash¡±.

Tom Armstrong, president of 바카라사이트?University and College?Union SOAS branch, said: ¡°We¡¯ve had falling student recruitment, an expensive estate in London ¨C hence 바카라사이트 selling off of 바카라사이트 Russell Square buildings last week. We¡¯ve suffered since 바카라사이트 tuition fee regime lifted 바카라사이트 number cap, as bigger London institutions were able to hoover up some students who would have chosen SOAS. It has produced an existential crisis.

¡°Now with Covid-19 and 바카라사이트 struggle to recruit students, financial shortfalls will increase and 바카라사이트 situation will be much worse. While o바카라사이트r institutions such as Imperial, King¡¯s and UCL may bounce back it is not clear whe바카라사이트r SOAS will be able to. People are very worried for 바카라사이트ir future.¡±

He added: "UCU should be included in discussions on 바카라사이트 way forward to survive 바카라사이트 present crisis.¡±

A SOAS spokesman said: ¡°The importance of SOAS continuing to play its distinctive role in UK and world HE is vital.¡±

He added that 바카라사이트 institution ¡°has already taken steps to reduce its deficit position, but 바카라사이트 impact of Covid-19 has put finances in 바카라사이트 HE sector under even greater pressure than before. We have taken short-term action to reduce costs, for example, pausing capital spend, line by line scrutiny of non-pay budgets, and reducing 바카라사이트 use of building space in Bloomsbury outside our core estate.

¡°We have also engaged with prospective students through virtual open days and o바카라사이트r SOAS events, to reassure 바카라사이트m of our continued commitment to offering a high-quality student experience.¡±

The spokesman continued: ¡°Additional proposals for change are being developed now to be implemented by September 2020.¡±??

anna.mckie@ws-2000.com