Bosses at the University of Edinburgh have launched a voluntary redundancy scheme for staff as the principal warned higher education in the UK is “facing serious and urgent financial challenges”.
Professor Sir Peter Mathies said the situation is placing the “stability” of the university sector “under threat”.
In addition to launching a voluntary redundancy scheme, which is for staff in senior grades, the university is also offering an “enhanced” retirement scheme for employees.
It comes four months after Sir Peter said 350 staff at the university had chosen to take voluntary redundancy as part of an earlier initiative.
The institution announced earlier this year it needed to cut £140 million from its budget to plug a black hole, with job losses likely.
Sir Peter said on Thursday that “cost saving measures”, including the previous voluntary severance scheme, putting promotions on pause and “recruitment restraint”, had resulted in projected savings of £24 million.
However he said: “The higher education sector across the UK is facing serious and urgent financial challenges, placing its stability under threat.”
He said the University of Edinburgh has been “transparent about how we are managing these pressures, while strengthening our position as a world-leading, research-intensive university”.
He added the new voluntary redundancy and enhanced retirement schemes will “support efforts to remain financially sustainable and avoid compulsory redundancies wherever possible”.
Sir Peter stressed the institution is “firmly committed to open and regular engagement with our community as we take the necessary steps to safeguard the future of our university”.
