Vice Chancellor Margaret Sheil told staff yesterday the university had a $25m surplus for last year – way better than an originally feared $100m deficit (CMM July 15 2020)
Professor Sheil attributed the result to stopping capital works and IT projects, a pause on recruitment, investment returns and savings from the Enterprise Agreement variation.
The EAV was for staff to accept postponing a 2 per cent pay rise, to December this year, foregoing leave loadings for 18 months and compulsory Christmas leave (CMM July 15 2020). It was backed by the campus branch of the National Tertiary Education Union and professional staff union Respect and was endorsed by 90 per cent of professional staffers and 88 per cent of academics voting in the required vote (CMM August 3 202).
The university has committed to no forced redundancies this financial year, but advised staff that 174 staff positions may be made redundant, while 102 new roles are created (CMM October 13) – $38m savings will go to 2021-22 budget shortfalls.
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