According to the University of Sydney’s Annual Financial Report, the educational institution recorded a surplus of $351.8 million in 2023. In 2022, the recorded surplus was $298.5 million. Both numbers pale compared to the COVID-19 2021 surplus of $1.3 billion. USyd reports that this is the sixth year in a row reaping a profit.
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The National Tertiary Education Union members’ vote came after the University made an updated offer to staff this week.
This development comes after a student who participated in online strike action was threatened with disciplinary action by the University last month.
Key demands include an end to casualisation and pay increases above inflation.
USyd NTEU members voted to continue industrial action with 24 hour strike action on 17 August.
Eligible staff will receive a 2.1 per cent pay rise and one-off $1000 payment.
The NTEU’s history can provide us with a guide for future industrial action.
In an update this afternoon, Vice-Chancellor Mark Scott told staff that most classes would return in-person in 2022, and revealed…
Management is yet to accept the union’s calls for this allowance to be offered annually.
Management’s proposals continue UTS’ track record of austerity measures.
