University to cut 200 jobs amid £29m shortfall

The University of Essex is looking to cut 200 jobs as it tackles a financial shortfall of about £29m in this financial year.

Staff reductions are due to take place over three years as part of efforts to stabilise finances by July 2027.

The university is home to more than 17,800 students across three campuses in Colchester, Southend-on-Sea and Loughton.

"This is a testing time for the higher education sector, with many other institutions facing similar or worse situations," a statement from the university said.

Earlier this year, the BBC reported that staff were worried about plans to introduce a freeze on their pay.

Vice-chancellor Prof Anthony Forster, who retired in July, said at the time that a 38% drop in international postgraduate applications had impacted the university's finances.

In the statement released on Thursday, the university said it would introduce a raft of measures to ensure medium-term financial sustainability.

They include pausing recruitment for most vacant posts, reductions to budgets across the university and a voluntary severance scheme with a view to reducing staff numbers by about 200.

The university is aiming to return to generating a cash surplus of 2% of income by July 2027.

"Thanks to our prudent financial management over the past few years, we have weathered the storm better than many," the statement read.

However, government decisions on funding and international students had contributed to the "considerable strain" felt by the university, it said.

"Our commitment to excellence in education and research, and providing a transformational student experience, will always remain central to Essex.

"We are working to minimise the impact of these changes on our staff and our students."

The statement added there was confidence that the university would be on a "stronger footing for the future" as a result of the steps it planned to take.

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