Vice Chancellor and President Chris Day has shared that the goal of avoiding staff compulsory redundancies has been achieved through the voluntary severance and redundancy schemes, additional adjustments within academic units and a surrendering of job vacancies.
The Executive Board have decided not to apply an annual cost-of-living rise to staff members on the highest salary grades, as well as introduced the new 2025-2026 budget approved by the Council.
Chief Financial Officer, Nick Collins, highlighted that a similar fall is to be expected in International students next academic year, and as a result, a forecasted £14m shortfall in university income.
Mr. Collins said: 'We have also built in further contingency to accommodate the risk of a higher than planned fall. This will provide some protection to help avoid the need for in-year restrictions being implemented again. However, with the ongoing volatile environment, we cannot fully rule out that risk.'
The short and long-term impact of the university's financial position has affected many academic and Professional Service staff as well as students who have lost contact hours and teaching over the last 4 months.
The University have sent emails to current students offering financial compensation to those who have had modules affected by the industrial action at the end of Semester 2. Students are also able to make individual complaints to their schools regarding further impacts on their studies.
Chris Day said:
'I am aware of the ongoing impacts these changes will have, particularly on those directly affected, but also, in different ways, on the whole of our community, including our students. This is an immensely challenging time for institutions like ours, and I am grateful for colleagues’ support as the University navigates towards financial sustainability'.