The University of Manchester have introduced a series of 'voluntary' cost-saving measures which staff can opt into, as a result of the coronavirus pandemic.
In a notice on the university website, staff were informed they could choose to take voluntary redundancy, salary reductions and unpaid leave.
It comes after Vice-Chancellor, Professor Dame Nancy Rothwell, announced the university had been faced by "serious" financial implications due to COVID-19.
The university said that following discussions with relevant trade unions, a number of optional measures have been introduced to help mitigate further action in the future.
Employees were told they are under no obligation to take up the measures, and should not feel any pressure to opt into it.
In a previous letter, Professor Dame Nancy Rothwell said she and all members of the Senior Leadership Team would be taking a voluntary 20 per cent pay cut.
She wrote to staff: "Along with other universities, we are already facing significant loss of income in the current financial year, though we hope that these are largely manageable through the actions we are taking.
"Many analyses in the UK and beyond indicate that there will be a major loss of international students, such that UK universities are likely to lose at least half of their international students. and it is possible that 80% of all international students and 20% of all home/EU students will be lost.
"For our University this could amount to a loss of over £270m in one year.
"Thus, we are preparing for a reduction in our total annual income of between 15 and 25%."
Staff are now being asked to consider a voluntary redundancy scheme which will run from May 21 until 31 July, 2020.
The notice said: "All University employees who are paid from core University funds are eligible to apply for VS, including those on fixed-term contracts.
"Staff who are currently on furlough leave are eligible to apply. Staff on casual and/or agency contracts are not eligible to apply.
"Decisions will be made based on the operational needs of the University at the discretion of line managers."
Employees with up to four years service will be offered four months basic salary, those with between four and ten years, a seven month salary and staff who have worked beyond ten years will be entitled to a ten-month salary.
The university said a number of employees had offered to take a salary reduction.
Colleagues are able to decide on the level of reduction and how long they wish this reduction to apply for, and can opt to return to full salary at any time.
University staff are also being encouraged to apply for an unpaid career break between three months and two years.
The current requirement that staff needed to have been in a job for at least two years to apply has been suspended until further notice.
Manchester University have also said they will offer employees reduced working hours, with a corresponding salary reduction.
