Outgoing Vice-Chancellor Paul Wellings has raised the possibility of further staff cuts at the University of Wollongong in the wake of declining revenue.
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On Monday, Prof Wellings informed staff of the university's new approach to deal with the ongoing impacts of COVID-19.
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While measures, such as a reduction in pay in exchange for a compulsory leave purchase scheme and some staff opting for early retirement, have already been put into place, Prof Wellings said this would only account for around $42 million of the expected annual shortfall of $90 million.
"We have made positive progress together since our original $90 million budget shortfall for 2020 was forecast in March," Prof Wellings said.
"Our enterprise agreement variations and cost controls have contributed significantly, but we need to continue to adapt to secure the university's ongoing financial sustainability."
The next stage would be a new operating model dubbed "One-UOW" which is "designed to reduce costs by eliminating duplication of resources, functions and processes across faculties and central divisions", a statement from the university said.
A presentation on Monday warned that "all staff will be impacted to some degree, either directly or indirectly" by the One-UOW model.
"This operating model is increasingly common in universities across the world and is set to reshape UOW ready for a post-pandemic world," Prof Wellings said.
The first change will start on January 18 next year and will involve changes to faculty administration, financial services, student accommodation and student recruitment.
Consultation with those employees in the affected areas will begin on Wednesday and continue until December 18.
As another cost-saving measure, Weerona College and International House will temporarily close from next year with students able to continue living there this year, before being required to move.
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