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UTAS plan to weather grim finances

Plunging finances has UTAS releasing a plan of reigning in wages to save jobs.

Pandemic border closures have gutted the university's international student numbers, largely responsible for punching a hole in revenue by up to $34 million this year and up to $120 million per year for 2021-22.

In negotiation with unions and staff, the university is proposing not paying a previously agreed 2% wage rise for 12 months to save 50 jobs.

Other announced plans include prioritising internal appointments, supporting flexible arrangements and exploring options from early retirements through to voluntary redundancies.

UTAS says it will take on debt of $130 million so that costs are shared between current and future generations, as well as holding non-salary costs and capital expenditure to lower levels in coming years.