Goldsmiths, University of London, one of the UK's most prestigious institutions for arts, humanities, and social sciences, is in deep crisis. Staff began an indefinite strike on 8 June after management imposed 100% pay docking on those participating in a marking and assessment boycott.
The third restructuring plan, dubbed 'Future Goldsmiths', seeks to save £22 million (around $29.5 million) primarily through mass redundancies, putting over a fifth of the workforce at risk. This is the third restructuring in five years, each leaving the university in a worse financial and organisational state.
According to the University and College Union (UCU), the first restructuring (Recovery Programme) after the pandemic saved £7.6 million but targeted 52 job cuts, especially in the History, English, and Creative Writing departments. Industrial action and public pressure reduced that number to 17.
However, the university's leadership signed agreements with Lloyds and NatWest banks, securing a small revolving credit facility in exchange for mortgaging £60 million in assets and committing to deep cuts, including staffing costs. A Freedom of Information (FOI) request revealed the university has spent over £14 million on private consultants, legal fees, and recruitment services since 2019, including £2.7 million to consultancy KPMG.
The second restructuring (Transformation Programme) in 2023-2024 targeted over 130 jobs and 11 out of 18 academic departments, ultimately resulting in 62 redundancies and £16 million in savings. Now, with the third restructuring, there is almost nothing left to cut. The temporary interim vice-chancellor, earning £240,000 ($321,130), blames striking staff for 'not facing harsh financial realities'. Promotions have been cancelled, and budgets for teaching assistants have been slashed.
The crisis at Goldsmiths is not an isolated case but a stark example of a failing national funding model. The marketization of higher education, starting with income-contingent tuition fees in 1998 and especially after the 2010 Browne Report raising the fee cap to £9,000, has pushed universities into fierce competition for students. International student numbers, a key source of tuition income, have also fallen due to visa policy changes under the Conservative government.
The Office for Students (OfS) estimates 119 universities will report deficits in 2025-2026, and MPs warn 24 institutions could become insolvent or face closure within 12 months. The government currently has no clear response plan and has pledged non-intervention, allowing 'market exit' to occur.
Experts say this crisis was entirely avoidable if the government had continued direct funding to universities as before 2010, instead of leaving it to the market. The UCU is calling for a coordinated national response among union branches to fight job losses and programme closures, focusing on the chronic underfunding of higher education.
In this context, staff at Goldsmiths will continue their indefinite strike, urging maximum solidarity to protect jobs, valuable degree programmes, and the vision of progressive education. Saving Goldsmiths is seen as part of a broader fight to save UK higher education itself.
