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ABC News
10 minutes ago
- ABC News
Australian National University announces more job cuts from across academic portfolio as it seeks to save $250 million
The Australian National University (ANU) is proposing to cut another 27 positions in its bid to save $250 million by 2026. The staffing cuts come in addition to the 59 job cuts proposed earlier this month and the 41 proposed job cuts announced in June. The latest roles are to be cut under a proposed restructuring of the academic portfolio, which provides student-facing services and staff support in teaching and learning. Deputy Vice Chancellor Academic Professor Joan Leach said the draft changes were aimed at consolidating the university's services and would lead to about $5 million in savings. She said they were the largest of the proposed changes at the university because the academic portfolio "touches every part of the university". "We're not looking to cut support or service. "We've emphasised the student-facing services. Students will not notice a lesser service. We're actually trying to increase student services and give students a better student experience. Professor Leach said the changes would streamline support for staff in the areas where they needed it, for example helping understand the benefits of artificial intelligence in teaching. "The way we support teaching and learning at the moment has been hollowed out by other changes we've made at the university. "We're on a journey." Vice-Chancellor Genevieve Bell said the university had been spending more than it earned for many years. "There is no easy fix to address the challenges faced by ANU, but living outside our means is not a responsible financial position, and we continue to be grateful for the ongoing engagement of the university and broader community to help support us through this period. "Through the hard work of our community, we're making good progress towards meeting our cost base reductions." ANU launched the cost-cutting initiative Renew ANU last year as it tries to reduce spending by $250 million — a goal it says will ensure the long-term future of the institution. Of that, the university says they are aiming to save $100 million in staff costs. Since the project started, approximately 135 workers have left through a Voluntary Separation Scheme, according to a statement issued by the university. Another 87 have been made redundant. The latest proposed cuts are not definite, and affected staff have a four-week consultation period to provide their feedback to the university. Changes to the College of Science and Medicine and College of Arts and Social Sciences are also open for consultation.
ABC News
40 minutes ago
- ABC News
HECS cuts have passed the Senate. Will they make university fairer?
Labor's pre-election pledge to cut student and apprentice loans by 20 per cent has now passed parliament, becoming the first piece of legislation enacted by the newly re-elected Albanese government. "We promised it and we've delivered," federal Education Minister Jason Clare told reporters on Thursday morning. The bill passed on Thursday also contains an increase in the repayment threshold, meaning a debtor can now earn up to $67,000 a year before the minimum repayment kicks in. Mr Clare said raising the threshold makes the system "fairer". The pledge to cut debts was evidently popular with many voters during the 2025 election campaign, and comes at a cost of about $16 billion. Student organisations, industry groups and independent politicians say there are other ways of spending that money to fix the tertiary sector. Here's what they're calling on the government to do. In 2021, the Morrison government changed the way university fees were structured through a program called Job-ready Graduates. The scheme aimed to use price signals to drive enrolment in courses in areas of skills shortages like nursing, mathematics and agriculture. Course fees for those subjects fell, while the cost of courses in history, law and media increased. Analysis from the University of Melbourne in 2023 found that the program was having a minimal impact on student enrolments, with less than 2 per cent of students choosing to enrol in a course they otherwise wouldn't have because of the scheme. "The Job-ready Graduates package is holding Australia back. It's time to replace it with a system that actually supports our future workforce," head of Universities Australia Luke Sheehy told triple j hack. Even the Coalition's spokesperson for education, Jonno Duniam, acknowledged that it should be scrapped. "The point has been made that the program isn't working. If a program isn't working, whether it be ideology or otherwise, there's no point sticking to it," Mr Duniam told triple j hack. The Greens and independent MP Monique Ryan wanted amendments to the bill to cut HECS and HELP loans that would immediately end the "unfair" Job-ready Graduate program. "Labor should have dumped Morrison's Job-ready Graduates fee hikes the second they came into power. The scheme is a cruel, punitive mess that does nothing except punish students with high fees," Greens education spokesperson Mehreen Faruqi said. The government would need to legislate to change the existing fee structure, but any such bill would have the support of the Greens and other key crossbenchers, like independent ACT senator David Pocock. The Universities Accord, a broad-ranging review of the higher education system, found that Australia would need 80 per cent of its workforce to have a tertiary qualification by 2050 to be globally competitive. To achieve that goal, the proportion of disadvantaged students with a qualification will need to drastically increase. Of the entire student population in 2023, just 2.2 per cent were First Nations, 12 per cent had a disability, 15 per cent were from low socio-economic backgrounds, and 18 per cent were from rural and regional areas, according to figures from Universities Australia. The Accord recommended implementing a needs-based funding model for universities like the Gonski funding model used in schools, which allocates more funding to schools with a greater number of students who have higher needs. The government has set up the interim Australian Tertiary Education Commission to work out the new funding model, and has pointed to the work underway by this body as a reason why it won't immediately scrap the Job-ready Graduate program. But Ms Ryan said the government shouldn't wait for the new funding model to scrap Job-ready Graduates. "The Australian Tertiary Education Commission won't be functional till 2026, and is not going to be able to change university fees till 2027. We have young people studying arts and law degrees this year, spending more than $22,000 a year on those courses," she said. "They should have been doing the work to get a new model in place over the last three years. What have they been doing on Job-ready Graduates for the last three years? There's urgency here," Senator Pocock said. Last year, the government introduced changes to the way student loans were indexed. Indexation refers to the way existing debts are calculated to consider fluctuations in inflation, year on year. The changes would see indexation based on either the consumer price index, which calculates inflation, or the wage price index, whichever is lower. But student groups, the Greens, independents and the Coalition say that shouldn't be the end of it. They want more change in this space. Independents like Ms Ryan and Senator Pocock want the government to change the timing at which indexation is applied. Currently, HECS-HELP debts are deducted from a debtor's pay cheque, but the overall amount owed doesn't decrease until after the debtor has filed their tax return. Debts are indexed annually on June 1, before tax returns are lodged, which means the amount indexed and added to the debt does not reflect the amount owed. Former shadow education minister Sarah Henderson said the government should cap indexation at 3 per cent. "Australians with a student loan or those planning to undertake tertiary studies should not be blindsided by high indexation driven by high inflation, as has occurred under Labor over the past three years," Senator Henderson said. The National Union of Students wants debts to be frozen during periods of high inflation. "It is outrageous that during a cost-of-living crisis, the Australian government would profit billions of dollars off of student debt," former NUS president Bailey Riley told a Senate inquiry. The Greens also want to scrap indexation altogether. "Unless indexation is removed, students will be in this hamster wheel, always chasing their debts, which keep getting bigger and bigger," Senator Faruqi said. From July this year, students undertaking compulsory work placements as part of a nursing, teaching, social work or midwifery course will be paid to undertake those placements. But the government is under increasing pressure to extend the payments beyond the four existing courses to other allied health and medical courses. "It really is odd to exclude our medical students from the same financial help other students receive while expecting them to undertake practical placements, often in rural, regional and remote areas," the president of the Australian Medical Association, Danielle McMullen, said. "Psychologists are only meeting 35 per cent of the federal government's psychology workforce goal, and exclusion from the paid placement scheme will entrench this shortage," head of the Australian Association of Psychologists Tegan Carrison said. Occupational therapy student Arabella Hely told triple j hack that allied health students are dropping out because they can't afford to live without income during their compulsory placements. "I know I've had to drop down to part-time study to be able to support myself. So many people are dropping to part-time study or deferring completely."
Herald Sun
an hour ago
- Herald Sun
Top 10 at 11: ASX dives as Fed gives hawkish vibes
The ASX had fallen 0.45pc in the first hour of trade, following US markets lower as the Fed Reserve remains non-committal on rate cuts. Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. Morning, and welcome to Stockhead's Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading. With the market opening at 10am sharp eastern time, the data is taken at 10.15am in the east, once trading kicks off in earnest. In brief, this is what the market has been up to this morning. Fed refuses to budge on interest rates The ASX is following US indices lower after the US Federal Reserve chair Jerome Powell once again signalled the central bank was not ready to cut US interest rates. Well, not just yet anyway. The ASX fell 0.45% in the first hour, down on 8 of 11 sectors with only info tech (+0.5%) showing any real signs of life this morning. With the US labour market remaining 'solid' by Powell's assessment and a September cut still in doubt, gold shed 0.8% overnight to US$3352.80 an ounce, then slid even further in trade today to US$3287.21 an ounce. Oil continued to rise, ticking up another 1% to US$73.24 a barrel of Brent. Iron ore has also gained marginally, up just 0.1% to hover just beneath the US$100 tonne mark at US$99.07. WINNERS Code Name Last % Change Volume Market Cap ASR Asra Minerals Ltd 0.002 100% 1157516 $4,000,198 WEL Winchester Energy 0.002 100% 849999 $1,363,019 TOU Tlou Energy Ltd 0.028 56% 4672 $23,374,518 DTM Dart Mining NL 0.003 50% 183333 $2,396,111 RAN Range International 0.0025 25% 2380188 $1,878,581 AON Apollo Minerals Ltd 0.008 23% 167672 $6,034,970 AAU Antilles Gold Ltd 0.006 20% 606666 $11,895,340 FBR FBR Ltd 0.006 20% 794501 $28,447,261 AS2 Askari Metals Limited 0.013 18% 153000 $4,445,878 RKB Rokeby Resources Ltd 0.013 18% 958797 $17,983,473 In the news... Winchester Energy (ASX:WEL) has been reinstated to the ASX after clearing a regulatory hurdle by appointing two more non-executive directors and filling out the required three-person roster. WEL is welcoming Jason Peterson, founder of CPS Capital Group, and David Wheeler, director and partner at boutique corporate advisory firm Pathways Corporate, to the board. The company is now seeking advice over a general meeting requirement. Askari Metals (ASX:AS2) is preparing for a systematic exploration program targeting high-grade, shallow gold mineralisation across two major gold corridors at its Nejo gold and copper project. AS2 will explore 10km of the Guliso Trend and 9km of the Guji-Gudeya Trend, home to the Soyoma, Dina, Chago, Chago South, Guji, Komto 1 and Komto 2 gold targets. Rokeby Resources (ASX:RKB) had a solid quarter of exploration and corporate growth, welcoming a $380k investment from new major shareholder Tony Rovira alongside a $1.1m capital raise. The money is funding a maiden drilling campaign just starting at the Hurricane gold project, which has produced bonanza grade rock chips of up to 69.5 g/t gold. LAGGARDS Code Name Last % Change Volume Market Cap MHK Metalhawk. 0.2 -46% 1426123 $45,655,248 XPN Xpon Technologies 0.008 -27% 5898642 $4,556,785 MEM Memphasys Ltd 0.003 -25% 5012105 $7,934,392 3DP Pointerra Limited 0.047 -18% 3680958 $45,889,377 BNL Blue Star Helium Ltd 0.005 -17% 33005320 $16,169,312 ECT Env Clean Tech Ltd. 0.0025 -17% 193524 $12,046,306 SER Strategic Energy 0.006 -14% 500000 $4,697,233 BMG BMG Resources Ltd 0.007 -13% 200000 $6,755,177 CHM Chimeric Therapeutic 0.0035 -13% 3475000 $12,996,494 MGU Magnum Mining & Exp 0.007 -13% 100000 $18,544,297 This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Originally published as Top 10 at 11: ASX dives as Fed gives hawkish vibes Stockhead These ASX juniors are progressing activities in mineral-rich Canada as the world continues to build non-Chinese supply chains to ensure resource security. Stockhead PainChek, EMVision and Clever Culture Systems are among ASX health companies reporting quarterly results today.
