UCD to cut costs over concern that debts may reach €20m

“UCD is set to embark on a vigorous cost-cutting programme amid fears that its accumulated debt could reach €20 million this year. In a meeting with over 1,300 staff, UCD president, Dr Hugh Brady outlined the financial crisis facing the college. He blamed this on cuts in Government funding and the recent national pay awards that cost €15 million in 2008/9. Dr Brady stopped short of signalling jobs cuts among UCD’s 3,500 staff, but he proposed a range of possible options to cut costs including a voluntary pay freeze; a freeze on recruitment; voluntary early retirement; voluntary leave of absence or reduced hours; voluntary redundancy; redeployment, deferred promotions and the restricted use of agency staff …” (more)

[Séan Flynn, Irish Times, 30 January]

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