Management warns staff they will have to “share the pain”
The university says the loss of income will include $70m in student fees and $50m in commercial income. All up LT U could face a 14 per cent revenue loss.
In a message to the university community, the senior executive group warn that with wages accounting for 70 per cent of operational expenditure, “we will have no choice at some time in the future but to ask staff to ‘share the pain’ by sacrificing short term income for the long-term sustainability of our institution.”
The LTU leadership also announces its members will take a 20 per cent pay-cut for April 25 to July 3, with the money split between university’s student support appeal and the university budget.
Vice Chancellor John Dewar is a member of a group of VCs who is meeting with the National Tertiary Education Union on the looming employment crisis.