2 weeks Ago By Jennifer Jones
HUNDREDS of jobs have been shed at a prestigious Scots university - with more cuts on the horizon – under plans to save millions. Around 350 employees of the University of Edinburgh have accepted voluntary severance as part of ongoing efforts to reduce costs. Advertisement 3 Around 350 employees have taken voluntary severance at the University of Edinburgh Credit: Alamy 3 Bosses at the institution said more cuts are on the horizon Credit: Getty However, university bosses have warned that compulsory redundancies cannot be ruled out as they face a £140 million financial black hole, approximately 10 per cent of the institution's turnover.
The job cuts amount to year-on-year savings of £18 million for the struggling Russell Group institution. In an all-staff letter, Professor Sir Peter Mathieson also announced a freeze on promotions for the next academic term. Those leaving the university as part of the voluntary scheme will receive their formal confirmation on 30 April, with remaining staff urged to monitor the workloads of colleagues departing.
Advertisement Read More Money SNACK DROP Huge snack firm closes factory with hundreds of jobs at risk after £5m bailout LOW FUEL British car firm warns of 'more cost cuts' days after axing hundreds of jobs The university employs 5,401 full-time academic staff and around 7,200 administrative staff, according to its latest figures from December 2024. Professor Mathieson wrote: “Around 350 staff have been accepted for voluntary severance. "Even though this may seem like a relatively small number within our large university population , this will likely result in year-on-year cost savings of around £18 million – an important part of our drive to save costs.
” He added: “We have also agreed to pause academic promotions until we reach a more stable financial position. Advertisement Most read in Money SCAM SHAME Scots Oasis fans most ripped off by ticket fraudsters as shocking stats revealed CASH PRIZE Glasgow woman, 34, scoops £30k jackpot at casino BLOCK I tested cheap supermarket drain unblockers - a £2 buy beat Mr Muscle GOOD ENERGY Big energy firm launches 'first' of its kind of deal to cut bills by £370 "This means that there will be no application process opening in the academic year 2025–26. “I realise that this will disappoint our academic colleagues, but this is needed to further contribute to our overall cost-saving measures.
Major Scots university to axe 632 jobs as staff left ‘in tears’ "We will use this intervening period to make improvements to future academic promotions processes based on the feedback we received through the review held last year.” Professor Mathieson also noted that the university needed to “deliver further changes to our size, shape and ways of working.” Advertisement He explained: “I and others have previously stated that it is not possible at this stage to rule out compulsory redundancies.
“The subsequent level of staff savings that will still need to be made is being assessed, and budget holders have been working to identify proposed savings as part of the Planning Round decision-making process. “This work is informing the development of an overall budget and five-year plan, for presentation to Court in the summer .” Professor Mathieson stressed that the financial challenges were “by no means exclusive to our university.
” Advertisement The University of Edinburgh is not alone in facing financial difficulties. Another prestigious institution, the University of Dundee , has estimated that 700 staff will be affected by a devastating job cull required to balance its books. Previously, it was reported that the University of Dundee planned to axe 632 positions in a shock announcement that left staff "in tears.
" The cuts were first revealed by interim principal Professor Shane O’Neill during a meeting, where he cited "the current financial crisis" as the reason behind the decision. Advertisement Read more on the Scottish Sun LOVE IT The £10 Home Bargains buy that instantly gives your front door summer love vibes Brand Bust Love Islander resigns from fashion brand with £139k debt as prices are slashed However, in a letter to a Holyrood committee earlier this month , Professor O’Neill disclosed that even more roles could be cut in an attempt to address a £35 million deficit and safeguard the future of the cash-strapped institution. He stated: "We estimate that around 700 individuals would be impacted.
" 3 Around 350 staff will leave their job roles in April Credit: Alamy.
