The University of East Anglia has announced plans to make staff redundant and cut departmental budgets, blaming a “deteriorating financial situation” caused by falling student numbers and the tuition fee freeze.
The research-intensive institution is projecting a deficit of £23 million for 2023-24 and fears this could rise to £37 million in three years, according to an all-staff email sent by vice-chancellor David Richardson and seen by Times Higher Education.
Professor Richardson says the situation is “serious” and plans need to be put in place to address the shortfall and secure long-term financial stability for the university, which is known for its health sciences research and leading creative writing department.
He says the university’s current situation has been caused by a lower-than-expected intake of students for the academic year 2022-23 as well as a higher-than-average dropout rate and a £5 million rise in energy costs in the last year.
