The higher education sector currently faces unprecedented financial pressures. You will be aware from my recent talks and from MyGlasgow, that the University is responding in a planned and strategic way to the financial crisis and the cuts in public funding.
 
Our approach is two-fold: to generate more income, and to pursue cost-savings. Court expects that the University of Glasgow will need to remove at least £20 million from its cost base over the next 3 years. As staff costs account for over 55% of the University’s annual costs, Court agreed to initiate a Voluntary Severance/Early Retirement (VSER) Scheme so that these costs can be reduced.
 
The VSER scheme may provide an additional option for some staff as changes begin to affect the sector. Issues to consider include changes to pension schemes, the different ways we will be working to meet our goals with less resources, and staff’s own personal circumstances.
 
UPDATE AFTER FEBRUARY COURT MEETING

At its meeting on 16 February 2011, Court reviewed the arrangements for the University’s current VS/ER scheme, and agreed that it should be extended with its current payment structure until Court reviewed the situation again at its May meeting.

This extension means that some of the forms and documents need to be revised, and the new ones will be posted in a few days. Until then, staff should continue to use the existing forms.

Court has reserved the right to review this VSER scheme as Government funding plans become clearer and therefore reserves the right to close the scheme with 2 weeks’ notice. 
 
Full details of the scheme, and forms, may be found at www.glasgow.ac.uk/reshaping

 

 

 

First published: 16 December 2010

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