McGill University planning to cut budget by $45M, slash up to 500 jobs

McGill University says it needs to cut $45 million from its 2025-26 budget to eliminate operating deficits over the next three years, following a series of setbacks that have made costs surpass revenue.

The following two budgets will have to be cut by $16 million and $14 million, respectively. The school predicts that without cuts, its deficit could balloon to $194 million by 2028. 

The university said in a town hall with students and staff over the weekend that the cuts could lead to up to 500 layoffs. It has asked individual departments and offices to come up with a plan for cuts. Once those are submitted, McGill's provost, Christopher Manfredi, said the school will have a better idea of how many positions will be cut.

Manfredi said the school will also continue its hiring freeze, which will also lead to the downsizing of its overall staff.

The university employs nearly 13,000 people and has roughly 40,000 students.

WATCH | McGill says government decisions have reduced enrolment revenues: 

McGill University says it needs to slash budget by $45 million, likely cut hundreds of jobs

15 hours ago

Duration 2:01

The university says the budget cuts will take place over the next three years to eliminate its projected deficit. In a statement, McGill pointed to several Quebec government decisions it says have made it more difficult to sustain its operations.

In a statement, McGill pointed to Quebec government measures it says have significantly harmed its ability to sustain current operations. 

In October 2023, the Coalition Avenir Québec (CAQ) government announced it was raising tuition fees for out-of-province and international students. Months later, the school said it was experiencing a "catastrophic" drop in enrolment. 

In a statement Sunday, McGill said, "in just over a year, successive government decisions have clawed back enrolment revenues, reduced our capacity to recruit students from outside of Quebec and decreased operating grants."

The university said other economic, demographic and political trends have also reduced investments in higher education.

"It has taken more than two centuries to build this world-renowned university, but just over a year for these decisions to harm it deeply," the statement said.