VC Duncan Maskell tells staff higher than expected second semester enrolments and research income mean the university is in better financial shape than anticipated

Revenue is expected to be down $177m this year, leading to an operating loss after savings of $60m. This is way better than the $500m first estimate of the 2020 impact of COVID-19, (CMM April 14), although the university is standing by its warning of a pandemic-related $1bn total revenue decline.

But while the university warns there are significant challenges in the years ahead, for now it seems staff savings will come from voluntary departures.

On Friday Professor Maskell proposed VRs and early retirements. Back in May the university linked voluntary separations to staff voting for an enterprise agreement variation which included cancelling a pay rise (CMM May 27). Staff voted no.

There is no mention now of numbers needed to go but last month the university stated it will need to lose an estimated 450 FTE positions (CMM August 6). Some of the job savings will possibly come from a support services redesign (August 28).