The University of Melbourne is expecting to lose $1 billion in revenue between now and 2023 as a result of the impact of the CCP virus on overseas student enrollments, according to The Age.
On June 4 The Age reported that the University of Melbournes vice-chancellor appealed to staff, who account for 56 percent of expenses, by asking them to agree to a 2.2 percent pay cut. This would prevent a loss of up to 300 jobs across the university.
“If you choose to do this, it would be a real contribution that you would be making to your colleagues, and to the future of the university,” Professor Maskell wrote to staff.
It comes after a string of universities revealed they are losing hundreds of millions of dollars in revenue and as Universities Australia predicted that universities could lose $16 billion in revenue in the next three years.
Some $12.3 billion of this is lost from international student fees.
According to the University of Melbournes latest annual report, foreign students made up 26 percent of its student cohort in 2006, this jumped up to 44 percent in 2019.
Today, 50 percent of its international student revenue comes from Chinese students, amounting to about $410 million, or 16 percent of the universitys revenue, according to data from the Centre for Independent Studies. International students made up aRead More – Source