University expecting £19m deficit looks to cut staff
The University says it has "has no wish to part ways with valued colleagues"
A University is offering a voluntary severance scheme to 500 staff to help it cope with a predicted £19.3m deficit.
The University of Northampton (UoN) said a drop in international student numbers was partly to blame.
The institution said other factors were also involved, including rising pension costs and repayments on a new campus.
The University added that the scheme was being offered "with regret".
As first reported in the Northampton Chronicle and Echo, one key factor in the deficit is a new rule which stops most international students from bringing family members into the UK during their studies.
This has resulted in a 44% drop in applications for UK student visas.
UoN said it also had to increase its contribution to staff pensions by 5%, and would have to start repaying the capital sum it borrowed to build the new Waterside Campus next year.
Capital repayments on the loan to build the Waterside Campus will start next year
A UoN spokesperson said: "It is with regret that the University of Northampton has launched this voluntary severance scheme for employees, and while the University has no wish to part ways with valued colleagues, the current financial environment has made this necessary.
"It will only involve those who choose to leave the University voluntarily, and where there is mutual agreement."
The University added that it would ensure "minimum disruption to teaching and life on campus for students" and would support staff "through to completion of the scheme and beyond".
UCU secretary Sonya Andermahr said the union welcomed the scheme but wanted a better package
Sonya Andermahr, the branch secretary of the University and College Union (UCU), said: "UCU’s view is that we broadly welcome the scheme as an alternative to compulsory redundancies.
"However, we feel that the terms of the scheme mean that it probably won’t have the desired effect of inducing enough staff to leave to make an appreciable difference to the university’s finances. We are seeking to improve the terms at a meeting with the university leadership team next week."
She added that the union had set up a team of faculty-based representatives to support colleagues.
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