Working towards our financially sustainable future

As this academic year draws to a close, this will be the final update of 2023/24 on our work in response to the financial challenges we face.

The University is continuing to manage the impact that economic pressures in the UK and globally are having on us as an institution and on the higher education sector as a whole.

While the General Election has returned a new Government, those external pressures will remain. So too, therefore, must our commitment to addressing them, including taking action to achieve our savings targets by the end of 2025/26.

Unlike some other UK universities, we are fortunate that our broader financial portfolio affords us the chance to approach our response to the financial challenges we need to address in a considered and more strategic way.

The need to meet these challenges, as the Vice-Chancellor has previously acknowledged, is likely to result in some restructuring of both professional services and academic activity.

In order to ensure that any restructuring which may be required is carefully considered at an institutional level, Council, via Senate, has approved the formation of a Consultation Group in accordance with our restructuring policy. This Group will provide over-arching governance for any restructuring activity during the period spanning the next two academic years 2024/25 and 2025/26.

The purpose of this group, which will be chaired by the Vice-Chancellor, is to oversee any restructuring activity, and to ensure equity in approach across different staff groups and ensure appropriate support for colleagues is in place. Positive and regular engagement on this approach and the formation of the Consultation Group is already underway with the UCU and Staff Forum.

There are no current formal proposals for restructuring within specific Schools or Directorates and UEB does not expect to receive any this side of the start of the new academic term in the autumn at the very earliest.

Based on the financial targets we need to meet and our ambitions for growth, any restructuring is likely to be focussed on specific pockets of activity. We do not anticipate a University wide redundancy programme. The role of the Consultation Group will be in part to explore, with UCU and the Staff Forum, how compulsory redundancies can be avoided, such as by managing changes through staff turnover.

We appreciate this lack of certainty will be concerning to many and may generate some questions from colleagues. As ever, in order to be as transparent as possible we will share available details as soon as it is possible and appropriate to do so.

Change can be difficult, but it is a fundamental part of the evolution of any organisation, including universities. As we approach our centenary year in 2026, it is critical that we make the necessary improvements to our operations in order to achieve the financial security of our institution for many more years to come.

We thank you for your continued hard work and support and will provide further details in the new academic year.