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Major job losses at Welsh Uni - 8% drop in student applications

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Is the Uni bubble bursting ?

 

Major job losses at Welsh university as it faces drop in student applications

http://www.walesonline.co.uk/news/education/university-announces-139-job-losses-12820580

 

Quote

More than 100 jobs are at risk at a Welsh university as it faces a drop in student applications.

...The University of South Wales blamed Brexit and student grant cuts as being among the reasons for the fall in applications.

It is consulting with staff on making 139 redundancies across all four of its faculties and support departments in Cardiff, Treforest and Newport campuses.

The losses represent 4.6% of the university’s workforce. It is understood that management jobs are most at risk.

The news comes just weeks after it emerged there has been an 8% drop in numbers of applications to study at universities in Wales, from students across the UK and the EU.

Domestic applications from Wales have also fallen 7% - the steepest decline of any of the UK nations - against a backdrop of universal tuition fee grants being scrapped, figures from university admissions service UCAS showed....

 

....“Like many universities, our costs are rising by over 3% a year while our income is staying the same.

“It means we can’t preserve structures and staff headcount in aspic because if we did this the University would, over time, lose its stable financial position.....

READ MOR

 

 

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5 minutes ago, Futuroid said:

Don't worry, the EU will be along with some more funding for Wales soon.

Oh, wait....

2392668400000578-2853011-Sense_of_humour

 

Great job of making a point you probably weren't meaning to. 

A+

:)

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University of South Wales was a mish mash of polytechnics and colleges of HE. By merging them a lot of people did very well out of working on the merger plans and others taking early retirement. But, IMPO, the arts side of Newport, which was a world renowned Film & Photography college, was lost.

But it is interesting to see the downturn in applications. With a weaker Pound surely there should be more people from overseas applying.

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1 hour ago, The Masked Tulip said:

University of South Wales was a mish mash of polytechnics and colleges of HE. By merging them a lot of people did very well out of working on the merger plans and others taking early retirement. But, IMPO, the arts side of Newport, which was a world renowned Film & Photography college, was lost.

But it is interesting to see the downturn in applications. With a weaker Pound surely there should be more people from overseas applying.

There was probably a decent technical college in that mix at some point, now totally ruined by the emphasis on watered down courses (just a guess, i haven't fully researched it).  

 

Gotto say 8.6% drop is quite significant.

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6 hours ago, The Masked Tulip said:

University of South Wales was a mish mash of polytechnics and colleges of HE. By merging them a lot of people did very well out of working on the merger plans and others taking early retirement. But, IMPO, the arts side of Newport, which was a world renowned Film & Photography college, was lost.

But it is interesting to see the downturn in applications. With a weaker Pound surely there should be more people from overseas applying.

It's not one of those places that had its wings clipped on the visa front is it?

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6 hours ago, TheBlueCat said:

It's not one of those places that had its wings clipped on the visa front is it?

This 2011 article refers to "University of Wales" not  Uni of South Wales, so they are different but....

Quote

After the University of Wales was abolished, Newport and Glyndwr Universities became independent bodies while Swansea Metropolitan merged with Trinity St David, based in Lampeter and Carmarthen. Newport is now part of the larger University of South Wales.  

http://www.walesonline.co.uk/news/wales-news/lecturer-examiner-whose-fraud-helped-9626829

University of Wales degree and visa scam exposed by BBC  

http://www.bbc.co.uk/news/uk-wales-15171830 

 

 

Edited by Saving For a Space Ship

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43 minutes ago, Gribble said:

UNi towns will be hit hard with Brexit as EU students wil no longer get reduced fees

Correctamundo.

Not to mention you might be booted out at any moment and will not be able to put down roots if you become romantically involved / want to do post-grad research / etc.

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Good, these crappy ex-poly's that offer appalling value for money(debt) deserve to go either kaput or drastically shave all the fat off and not try to offer a huge range of (poor quality) courses. 

Higher education is one massive ponzi scheme ... akin to another ponzi scheme we're all watching.

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It was always a bubble that needed popping, Brexit or no Brexit. The cost V benefit ratio for a degree just isn't there anymore when there is no reason much of this vaunted 'higher education' can be done through the internet or cheap classes in hotel conference rooms. Going to these grand establishments is just a vanity project that harks back to some misty eyed Victorian novel. 

It'll assist with a HPC too should the BTL brigade struggle to let out their slumlord student digs anymore. 

Bring it on. 

 

 

Edited by casual_squash

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3 minutes ago, casual_squash said:

I was always a bubble that needed popping, Brexit or no Brexit. The cost V benefit ratio for a degree just isn't there anymore when there is no reason much of this vaunted 'higher education' can be done through the internet or cheap classes on conference rooms. Going to these grand establishments is just a vanity project that harks back to some misty eyed Victorian  Novel. 

It'll assist with a HPC too should the BTL brigade struggle to let out their slumlord student digs anymore. 

Bring it on. 

 

 

There's a couple i see in the local news all the time -Teesside + Huddersfield.

Maybe less so for Huddersfield. Its gone strangely quiet.

Both seem to have expanded massively in depressed Northern towns. Teesside esp. seems to be spreading like a blob in boro. I guess it helps that there is little other economic activity around.

I remember reading one article which went along the lines of 'When I grew the town had bet on two industries - steel + chemicals. Both went thru depressions and cut most of their staff. Now the biggest employee is the Uni, Things have  got better.'

I thought - WTF? Youve gone from betting on a 2 orgs and placed all the bets on one. Hos that better?

The number of 18-22 is taking a massive dip in the next 10+ years.. Just demographics.

Combine the lower number with the huge number of of ex Grads who's are no better off going to Uni and only have ~50K of debt - differred taxes if you wish, to show for it.

 

 

 

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I have an anecdotal from a local Uni, from 6 months ago.

The minibus pool that ferries students about between campuses, could not afford to employ a new driver they needed. 

So the manager had to become a driver, while doing his other duties.

 

I wonder how much debt Uni's are in . any links ? 

 

Edit : from April 2015 

Download full data on how institutions’ finances compare

 

Edited by Saving For a Space Ship

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It must have been a bubble, and you can only recognise it after the fact. If you visit Portsmouth, you can't recognise it with all the student halls that have sprouted up all over the place. There have been cranes everywhere.

They are converting the old Zurich Insurance buildings into yes you've guessed, student halls. It's not even big enough - they are adding an extension. And this is just one complex.

47_ac0h8i1h04.jpg

Old Zurich Insurance Empty Building - it's not big enough!

0415_Knghtsbridge_Cam_11_Portsmouth.jpg

^Zurich + Extensions into 1000 bed student accommodation. Under construction. Link http://www.mcaleer-rushe.co.uk/projects/catherine-house-portsmouth/

Edited by 200p

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23 minutes ago, spyguy said:

There's a couple i see in the local news all the time -Teesside + Huddersfield.

Maybe less so for Huddersfield. Its gone strangely quiet.

Both seem to have expanded massively in depressed Northern towns. Teesside esp. seems to be spreading like a blob in boro. I guess it helps that there is little other economic activity around.

I remember reading one article which went along the lines of 'When I grew the town had bet on two industries - steel + chemicals. Both went thru depressions and cut most of their staff. Now the biggest employee is the Uni, Things have  got better.'

I thought - WTF? Youve gone from betting on a 2 orgs and placed all the bets on one. Hos that better?

The number of 18-22 is taking a massive dip in the next 10+ years.. Just demographics.

Combine the lower number with the huge number of of ex Grads who's are no better off going to Uni and only have ~50K of debt - differred taxes if you wish, to show for it.

 

 

 

The problem with Boro is there has been empty unit space in town since the 50's which they just can't fill. 

The council allowed the university to buy these units for £1 to fill them.  The smart kids now are looking at their Generation Y elders, see them living in high rent slums on average wages with high student debt and will most certainly look at alternatives. Add in demographics and yes to me the university bubble will implode. 

It'll hurt Northern towns but not to the degree of the 1980's de- industrialisation. The university bubble was a sticking plaster over a wart. 

The UK is overdue a major re balancing though, not just away from the EU cartel but the London cartel too. Both cartels fed the other and the capacity to support both is dwindling fast. 

 

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5 minutes ago, 200p said:

It must have been a bubble, and you can only recognise it after the fact. If you visit Portsmouth, you can't recognise it with all the student halls that have sprouted up all over the place. There have been cranes everywhere.

They are converting the old Zurich Insurance buildings into yes you've guessed, student halls. It's not even big enough - they are adding an extension. And this is just one complex.

47_ac0h8i1h04.jpg

Old Zurich Insurance Empty Building - it's not big enough!

Zurich-House-CGI-Main1.jpg

^Zurich + Extensions into 1000 bed student accommodation. Under construction. Link http://www.mcaleer-rushe.co.uk/projects/catherine-house-portsmouth/

I was shot down a while ago warning about this. 

I work with a property software company. The growth in commercial is dead so all the investors are now looking to residential as the white knight to save them. Big investors are ploughing into PRS/Build to Rent and student let is a major part of this. I'm told by sales that whats in their pipeline is crazy.

It keeps me in a job but I'm sceptical this is going to save these investors bacon, politically and numerically I just can't see it being sustainable. If the uni bubble pops a lot of people are going to lose big money. 

I also can't see Brexit voters ,after Brexit happily voting in a Government that is going to allow in the numbers to make all this work. 

 

 

 

 

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