The University of Waterloo has implemented a hiring freeze for staff and faculty as it contends with a $75-million deficit for the 2024-25 school year

U of Waterloo dealing with $75-million deficit

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2024-11-23 22:00:03

The University of Waterloo has implemented a hiring freeze for staff and faculty as it contends with a $75-million deficit for the 2024-25 school year.

“The freeze on domestic tuition, years of limited government funding, lower international enrolment, inflation and rising salary costs mean we expect another similar deficit in the next financial year,” Dr. Vivek Goel said in an update to faculty and staff.

“The Ontario government has been clear that there will not be a change to the tuition framework or the structure of the operating grants for domestic students, including the corridor cap on funded enrolments, in the next few years. Similarly, the federal government has been clear that they will stand by their recent decisions on international student caps and changes to immigration targets.”

Waterloo was able to permanently reduce spending by $42 million this year, with the additional $33 million coming from central reserves; money the school usually sets aside to invest in long-term capital requirements like innovative technologies, maintenance of aging buildings and building new facilities.

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