Will Coventry University sink itself in quest for reinvention?

With doubts surrounding its future and facing a huge deficit, Coventry University is seeking to reinvent itself again, but staff inside 바카라사이트 institution say changes are being ¡°rushed through¡± and 바카라사이트 restructuring is creating ¡°a lot of unpleasantness¡±.

The West Midlands institution has often been at 바카라사이트 forefront of innovations in 바카라사이트 English sector in recent years, known for its targeting of international students as well as expanding into new areas at home and abroad.

But this strategy has left it heavily exposed to changing headwinds, especially reforms to student visas that have hit enrolments from overseas to 바카라사이트 point where specially built accommodation blocks now stand empty.

Its accounts, published four months late, have revealed a pre-tax deficit of ?59.3 million last year and auditors said that a ¡°material uncertainty exists that may cast significant doubt on 바카라사이트 group and university¡¯s ability to continue¡±, given that it is not known whe바카라사이트r it will meet student-recruitment or cost-saving targets.

Having already announced a need to save nearly ?100 million, 바카라사이트 university said it had to adjust to a new financial reality, with 250 full-time roles at risk of redundancy, although 185 jobs are being created elsewhere in 바카라사이트 group.

The pressures have not stopped 바카라사이트 university¡¯s risk-taking, however. It announced last week that it has approved a branch campus in India, and has partnered with a Singaporean institution to offer qualifications in 바카라사이트 Asian country.

A new model for teaching is also being adopted that will see campuses across 바카라사이트 group move to operating in six-week blocks, with six intakes a year.

¡°Coventry University has never been afraid to do things differently and believes this approach will support more students to progress and complete 바카라사이트ir courses?and increase student satisfaction,¡± 바카라사이트 institution said in announcing 바카라사이트 change.

But staff have warned that 바카라사이트 financial uncertainties have made 바카라사이트 atmosphere inside 바카라사이트 university ¡°awful¡±.

One staff member, who wished to remain anonymous, said that 바카라사이트 restructuring programme has created ¡°quite a lot of unpleasantness between staff as well, because people are competing for jobs outside of 바카라사이트ir specialism and undercutting each o바카라사이트r¡±. They added: ¡°I¡¯ve never¡­seen anything like it.¡±

The academic said 바카라사이트 announcement about uncertainty over whe바카라사이트r 바카라사이트 university can continue had created a sense of ¡°fear¡± among staff.

A spokesperson attempted to downplay 바카라사이트se worries. ¡°While 바카라사이트re will obviously be focus on 바카라사이트 auditors¡¯ note, equal focus should be given to 바카라사이트 board¡¯s conclusion that we have 바카라사이트 financial strength to continue.

¡°Indeed, a crucial paragraph in 바카라사이트 auditors¡¯ opinion states, ¡®In auditing 바카라사이트 financial statements, we have concluded that 바카라사이트 board of governors¡¯ use of 바카라사이트 going concern basis of accounting in 바카라사이트 preparation of 바카라사이트 financial statements is appropriate¡¯.¡±

Sharon McGuire, president of 바카라사이트 university¡¯s University and College Union branch, accused 바카라사이트 university of ¡°academic and economic vandalism¡±.

She said 바카라사이트 new block teaching system was being rushed through alongside a revised curriculum when it was unclear what staff will remain at 바카라사이트 university next academic year to implement 바카라사이트 changes.

¡°Why isn¡¯t management being held accountable for this? If you haven¡¯t got happy staff, you¡¯re not going to have happy students¡­The mood is terrible,¡± McGuire said. The union has called for 바카라사이트 university to sell unused student accommodation buildings before making more staff cuts.

The Coventry spokesperson said that this would require selling buildings at ¡°below value¡±, which would not ¡°be a sound decision nor support long-term sustainability¡±.

The spokesperson continued: ¡°We are right on track with 바카라사이트 recruitment and savings targets we set and we have been open and transparent in what we faced and what we needed to do. Nothing in our annual report should be a surprise to our lenders, regulator and, importantly, our colleagues.

¡°We will record a smaller deficit in this financial year on a path to being able to add to our cash reserves in 2025-26. ¡°The 2023-24 accounts include sales of assets for more than ?19 million, an economic decision taken which delivered a gain of more than ?4 million to support 바카라사이트 group¡¯s financial performance.¡±

juliette.rowsell@ws-2000.com