But the university’s finance chief has dismissed suggestions of ‘‘imminent’’ job losses, saying no decisions have been made ‘‘at the current time’’.

Staff raised concerns with the National Tertiary Education Union on Thursday, after Faculty of Business executive dean John Glynn told them ‘‘redundancies could be expected before Christmas’’, according to the union.

The Mercury contacted Prof Glynn’s office for clarity, but instead received a written statement from UOW chief finance officer Damien Israel.

‘‘We would like to reassure all our staff that no decisions have been made to proceed with any redundancies at the current time,’’ Mr Israel said.

‘‘Like all universities, we are facing a challenging and uncertain financial climate. 

‘‘It is essential and prudent for us to review and manage all areas of expenditure and to work within the resources available to us. 

‘‘Salaries represent the largest component of our expenditure and our financial strategy monitors movements in this closely to ensure we remain a sustainable institution.

‘‘We will continue to review the situation and are committed to ongoing communication and consultation with staff.’’

The faculty meeting followed a staff forum at UOW on Wednesday, at which Vice-Chancellor Professor Paul Wellings announced that wages spending would be brought under renewed scrutiny, with the aim of reducing from 58 per cent to 56 per cent the portion of operating costs that goes on staff salaries.

Reforms now being considered in the Senate propose a 20 per cent reduction in Commonwealth grant scheme funding to universities.

According to the NTEU, Prof Wellings indicated the reforms would diminish – but not wipe out – UOW’s profitability.

NTEU branch president Dr Joanne Buckskin questioned why jobs would be cut if the university was going to remain profitable.

The NTEU’s enterprise bargaining with UOW is ongoing after almost 12 months.