Financial Sustainability: May Update

Following last month’s update on the programme of activity required to return the University to a financially sustainable footing, work is continuing to carefully reduce costs while specifically targeting increase in income in areas that make sense. 

Staff Cost Savings 

Work has continued with the JSNCC on proposals to mitigate the need for redundancies in order to deliver the staff savings required this year, with a number of proposals either in effect or under consultationThis includes suggested changes to the University’s Reward Strategy, which staff are invited to give feedback on before 5 June, alongside specific proposals regarding promotions and discretionary payments for some senior staff.  

Cash & Capital Approvals 

A number of measures have been introduced to reduce our day-to-day costs, building on the good work already underway in a number of areas to reduce staff costs. This includes restrictions on both credit cards and travel use, work with budget holders to reduce end-of-year spend and tighter control on the use of external providers. 

Business Improvement & Value for Money 

Recent changes to our European strategy are now being implemented, centred around a strong hub in Brussels supported by an increased focus on partnerships with universities across Europe. Alongside this, progress has been made in a number of areas in exploring online opportunities through Future Learn as part of ways to complement on-campus teaching in the future. 

Find out more on the Financial Sustainability and Improvement programme.