More than a third of elite UK universities were forced to make further staff cuts last year, while severance spending across the Russell Group rose by more than a fifth, according to Financial Times analysis.
Ten of the 24 universities in the group said they ran voluntary severance schemes in 2024, offering staff compensation packages in exchange for taking voluntary redundancy.
Payouts for staff redundancies rose after a sharp drop-off in lucrative foreign students. Analysis of annual financial statements showed that collectively 22 Russell Group universities paid ￡70mn last academic year, a 29 per cent rise on the ￡54mn spent in 2022-23. Two universities did not provide data.
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