Glasgow Caledonian University plans to cut 100 jobs due to £10 million projected deficit

Glasgow Caledonian University has announced plans to cut around 100 posts as it seeks to address a projected £10 million budget deficit.

The decision comes after a marked decline in international student recruitment contributed to a £33 million reduction in income over the past two years.

As a result of the lost income, the university anticipates a financial shortfall exceeding £10 million in the next financial year.

In response to the funding gap, the institution has introduced a Targeted Voluntary Redundancy Scheme. The programme is aimed at staff in departments most directly affected by falling international enrolment and those whose roles are funded through international income streams.

The scheme will remain open until April 15th and is expected to identify more than 100 posts.

However, the university has indicated compulsory redundancies may be reconsidered should the voluntary scheme fail to achieve the required level of savings.

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via Wikimedia Commons

A Glasgow Caledonian spokesperson said: “Like many other universities across the sector, GCU has experienced a significant drop in international student recruitment. Over a two year period we have seen a £33m loss of income, which is not sustainable, and face a predicted financial deficit of over £10m in the next financial year. We therefore urgently need to reduce costs to ensure the financial sustainability of the university so we can continue to deliver the high quality learning experience our students expect and deserve.

“To address this substantial drop in income, the university has launched a Targeted Voluntary Redundancy Scheme for staff working in areas directly affected by the drop in our international student numbers and sustained by international income.

“The scheme will run until the 15th April and look to identify upwards of 100 posts. An open consultation period with staff and our trade union colleagues will run throughout this period so we can work together to explore how we can best deliver the changes needed while maintaining a high-quality experience for our students and sustaining our impactful research.  By taking this targeted approach, the university is actively seeking to reduce the need for compulsory redundancies.

“We really appreciate this may be an unsettling period for all our staff and students, and really concerning for those directly affected, but we have to take this targeted action now – to move the university back into a sustainable financial position and ensure we are the right size and shape for the future.”

Featured image via Wikimedia Commons