Bangor University - V-c's cash warning

The vice-chancellor of Bangor University has told staff that £5 million in savings need to be made in the face of "severe financial pressures". Merfyn Jones said in a memo that the economic crisis would have "very serious consequences for the public finances of the UK", which would "affect all public spending and ... have an impact on every university". A wide-ranging academic review, efficiency improvements, energy and resource management, and a new procurement strategy will be required to drive down costs and maintain a 3 per cent surplus, he said.