University of King’s College says financial woes will mean fewer staff, faculty members

The University of King’s College is shrinking its payroll by at least 14 positions.

The University of King’s College says “hard choices” could come as they face financial challenges.

“We have launched this program and we’re calling it ‘Workforce Adjustment Program’ and the aim is to reduce the number of employees at Kings by 14. So, this would be a mixture of staff and faculty positions,” says Tim Currie, the college’s vice president.

The school is asking people to express an interest in the program through an application, the deadline is September and the plan is to have those reductions take place in the next six to 12 months.

“It’s part of our efforts to cut costs. So, you know, like many universities in the region, King’s is facing financial challenges. Inflation is driving cost increase, student recruitment has become more competitive in recent years and revenue in the form of tuition and government transfers you know those all continue to be tight,” says Currie.

Who opts for this program and who doesn’t will determine the school’s next steps.

“It could be involuntary layoffs, yup, that could be a possibility. We are really hoping it doesn’t come to that but that could be something that happens,” says Currie.

Currie says the school is cutting department budgets as well.

“We’ve reduced department budgets by five per cent for next year. We’ve increased the draw on our investments slightly and restructured some debt. We’re continuing a hiring freeze and our facility has also agreed to a wage freeze for more of our members for two years,” says Currie.

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