Name: ANU looks to cut staff as it tackles a $225 million budget hole
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ANU looks to cut staff as it tackles a $225 million budget hole

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ANU looks to cut staff as it tackles a $225 million budget holeWe’re sorry, this feature is currently unavailable. We’re working to restore it. Please try again later.DismisscloseAdvertisementBy Log in, or to save articles for later.Normal text sizeLarger text sizeVery large text sizeAdvertisementThe Australian National University is moving to cut staff and take out loans as it confronts a $225 million blow to its budget this year because of the COVID-19 pandemic.ANU confirmed the significant financial hit on Wednesday, informing staff the university had lost $150 million in revenue and been saddled with extra costs of $75 million stemming from the crisis.Vice-chancellor Brian Schmidt said the university had already deferred capital projects, cancelled travel and suspended recruitment but still needed to find $100 million in savings."We will need to reduce our salaries bill and we are asking for feedback on a voluntary separation scheme that would work both for our staff and our university," Professor Schmidt said on Wednesday.He said involuntary redundancies were being treated as a "last resort" and ANU would be looking to find other savings beyond payroll."Our council has also agreed that we can borrow where that is prudent and we are in the process of trying to do that," he said.The university will also be cutting back on "risky" new spending initiatives, deferring courses with small numbers of students, encouraging early retirement of staff and seeking philanthropic support.Professor Schmidt said he would take a 20 per cent pay cut in the second half of the year and other executives would take a 10 per cent cut.AdvertisementANU is predicting similar levels of savings will need to be found in 2021 and 2022 as the impact of the global crisis continues to restrict global movement and the arrival of international students.The university has not made a decision on a national jobs protection plan negotiated by the National Tertiary Education Union that has so far been rejected by 17 vice-chancellors. The in a bid to minimise job losses."It is unclear whether we need to be trading things in such a draconian fashion here at ANU," Professor Schmidt said."And that's why I do want to have this conversation to work out what are the easiest and best ways for us to save money before we start having any conversations like that."The NTEU has told universities to expect an escalation of industrial disputes in response to the growing rejection of the jobs plan that was negotiated between the union and a group of four vice-chancellors representing the Australian Higher Education Industrial AssociationNTEU national president Alison Barnes lashed the "fear and greed" of universities that had abandoned the framework.Professor Schmidt said the deal had been negotiated nationally in good faith but said ANU's finances were unusual and some elements of the framework may not be appropriate.Get our Coronavirus Update newsletter for the day's crucial developments at a glance, the numbers you need to know and what our readers are saying. Sign up to The Sydney Morning Herald's newsletter and The Age's .Log in, or to save articles for later. is a crime reporter for The Sydney Morning Herald. He previously reported on federal politics, education and communications at Parliament House in Canberra.Advertisement

ANU looks to cut staff as it tackles a $225 million budget holeWe’re sorry, this feature is currently unavailable. We’re working to restore it. Please try again later.DismisscloseAdvertisementBy Log in, or to save articles for later.Normal text sizeLarger text sizeVery large text sizeAdvertisementThe Australian National University is moving to cut staff and take out loans as it confronts a $225 million blow to its budget this year because of the COVID-19 pandemic.ANU confirmed the significant financial hit on Wednesday, informing staff the university had lost $150 million in revenue and...

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ANU looks to cut staff as it tackles a $225 million budget hole

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