Deakin U’s income this year will be down up to $110m on 2020, increasing to $250m-$300m by end 2021
“We cannot adopt a position which is predicated on riding out a 12-month disruption,” Vice Chancellor Iain Martin tell staff.
“If we did so, our Future Fund would be exhausted in less than two years and, we would still be facing the tough decisions we are looking at now,” he says.
“Although we will be doing so with a heavy heart, it will be impossible to avoid redundancies given that employment costs are more than half of our total expenditure. These decisions will be shaped so that we ensure focus on our core activities of education, research and innovation.”
Professor Martin will brief staff on May 11.
He is believed to have taken a 25 per cent pay-cut for the calendar year and to be donating to the university student relief fund.