500 jobs at University of Nottingham at risk after ongoing financial struggles

The University of Nottingham is facing a difficult financial situation, leading to the risk of 500 job cuts amongst other cutbacks.

After facing the prospect of a financial year-end budget gap, the uni has been forced to take several measures to prevent further problems.

As part of these measures, the reputable Russell Group uni has introduced a Mutually Agreed Resignation Scheme meaning that employees can leave with a severance payment instead of facing redundancy, Nottingham Post reports.

This comes after a preceding hiring freeze and the decision not to renew almost 500 staff contracts that expire in July.

Other measures that have been introduced include the removal of non-pay budget items such as coffee in staff rooms and a pause on the library book suggestion scheme.

In light of these strict financial measures, the university has come under intense criticism after its newest campus, Castle Meadow, has imbued costs of at least £45 million in 2023. The campus is set to open in 2026.

UoN’s University College Union committee has labelled the campus a “vanity project,” and has voiced its concerns surrounding spending decisions.

The UCU said: “In general, we are concerned about the way of how the university governance structures are organised and how little opportunity staff have for meaningful participation in those structures.

“Instead of drawing on the existing expertise within our institution, only a very small circle of senior managers decides on Future Nottingham.”

A spokesperson for the university has acknowledged challenges faced in higher education and said that the decisions enacted “will support the university in its ongoing work as it adapts to the challenging national and global environment in which HE operates.”

The university’s full statement can be read here. 

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