Institution plans to save 25% of annual budget to secure financial stability and reinvest in digital transformation
Staff at the Open University are preparing for job losses as part of a radical overhaul to try to secure the institution’s financial future. The OU vice-chancellor, Peter Horrocks, told staff on Tuesday that a “root and branch review” of every aspect of the university’s operations was being launched to achieve savings of £100m from the annual budget of £420m, the bulk of which would be invested in a digital transformation programme.