In January 2020, Goldsmiths proposed to cut costs by 15% over two years in the "Evolving Goldsmiths" plan by reducing faculty and centralizing administration. According to the Goldsmiths University and College Union (UCU), the plan did not address the causes of the deficit, which it attributed in part to overoptimistic enrolment forecasts and excessive capital expenditures. Furthermore, UCU warned that cuts to faculty would increase the deficit by reducing the income stream of tuition fees, which accounted for 77% of the College's revenue in the 2019-2020 fiscal year. "Evolving Goldsmiths" was "closed" in April 2022. In summer 2020, the UCU proposed selling "underused" property to build cash reserves; this was not done. Goldsmiths consolidated and refinanced its loans through NatWest and Lloyds Bank; the banks required the College to consult KPMG to discover cost saving opportunities.
In January 2020, Goldsmiths proposed to cut costs by 15% over two years in the "Evolving Goldsmiths" plan by reducing faculty and centralizing administration. According to the Goldsmiths University and College Union (UCU), the plan did not address the causes of the deficit, which it attributed in part to overoptimistic enrolment forecasts and excessive capital expenditures. Furthermore, UCU warned that cuts to faculty would increase the deficit by reducing the income stream of tuition fees, which accounted for 77% of the College's revenue in the 2019-2020 fiscal year. "Evolving Goldsmiths" was "closed" in April 2022. In summer 2020, the UCU proposed selling "underused" property to build cash reserves; this was not done. Goldsmiths consolidated and refinanced its loans through NatWest and Lloyds Bank; the banks required the College to consult KPMG to discover cost saving opportunities.