A report prepared by two professors of accounting with the Asper School of Business reveals that Cape Breton University (CBU) is in a “stable and healthy” financial position, casting doubts on the administration’s rationale for planned lay-offs of faculty.
“Simply put, there is no financial crisis that would warrant staff lay-offs,” said David Robinson, Executive Director of the Canadian Association of University Teachers. “CBU’s operating funds have remained stable while the institution has run surpluses and has even repaid debts in recent years.”
In January, the University President notified the faculty union that he would invoke the lay-off clause of the collective agreement due to financial concerns. The report reveals increased spending on capital projects and recruiting, not faculty salaries.
“Cape Breton University is financially stable compared to other Canadian institutions,” said Robinson. “CAUT will support CBUFA in challenging the administration’s austerity narrative and protecting their dedicated faculty.”
Angela Regnier, Communications Officer, Canadian Association of University Teachers; 613-726-5186 (o); 613-601-6304 (cell)