The University of Nottingham has enacted a wide-ranging set of cutbacks after its leaders became aware it was hurtling towards a financial year end budget gap
The bleak financial situation at a Nottingham university means around 500 job cuts are on the cards, a union says, as library book orders are put on hold and coffee is taken out of staff rooms. The University of Nottingham has enacted a wide-ranging set of cutbacks after its leaders became aware it was hurtling towards a financial year-end budget gap - measures which unions say will only create more problems.
The university bought the Castle Meadow site, which was formerly occupied by HMRC, for more than £36 million in 2021. The 32,500 square metre space will be used to educate thousands of post-graduate students and house global and local businesses. In January the University of Nottingham's Executive Board announced the institution was facing "challenges around our estate" and needed to address immediate maintenance issues, as well as dealing with the recent inflation and decline in real-term value of tuition fees which the board said had resulted in "unprecedented financial pressures" for UK universities.
"We have been carrying a lot of vacancies in teams already, so this will only make things worse. We've been feeling quite a heavy workload in some areas for a long time, and there's an expectation that could increase. "Continually reviewing our spending and ensuring we are achieving the best value represents good financial management and in the face of these current challenges will help to safeguard the financial future of the university for our staff and students.
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