Newcastle University Hits £20m Savings Target Without Compulsory Job Cuts

National World - LocalTV

After months of industrial action, Newcastle University officials have announced they have raised £20million without having to implement compulsory redundancies.

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00:00Newcastle University has announced it has successfully achieved £20m in salary savings.

00:07The university, which has faced ongoing industrial action since March, confirmed it had reduced

00:11its wage bill by 5% through voluntary severance, staff redeployment and other cost-saving measures.

00:18As a result, the threat of forced job losses has now been lifted.

00:22A spokesperson stated,

00:24The university has now achieved its £20m target of salary savings in full and without

00:30the need of compulsory redundancies.

00:33This is an immensely challenging time for universities across the UK and we are grateful to everyone

00:38in our community for their commitment and patience.

00:41The news was welcomed by the Newcastle branch of the University and College Union, or UCU,

00:47which has led to 44 days of industrial action over the threat of redundancies.

00:52College Chair Professor Matt Perry said,

00:54We are very, very pleased those people in the pools for redundancy are relieved.

00:59It has been a demanding long fight, but we feel vindicated.

01:03A meeting between the union and the university management is scheduled this week to discuss

01:07next steps and the future of the dispute.

01:10Earlier this month, hundreds of demonstrators gathered in Newcastle City Centre during a national

01:15UCU protest demanding a reformed funding model for higher education.

01:21The university's financial crisis emerged in 2023 when it revealed a £35m shortfall linked

01:27to its declining international student numbers.

01:29As of early June, 257 staff had opted for voluntary severance from a workforce of around 6,000.

01:37The university says the changes position it for long-term sustainability while maintaining

01:42its research and teaching excellence.

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