An Ontario post-secondary institution is introducing voluntary staff exit packages as colleges across the province continue to grapple with financial pressures linked to declining international student revenue and a prolonged tuition freeze.
Humber Polytechnic says it is launching a Voluntary Employee Exit Program (VEEP), citing what it describes as significant fiscal challenges.
In a letter to the Humber community, president and CEO Ann Marie Vaughan said the school is facing budgetary strains despite recent provincial funding for the sector.
“Humber continues to navigate significant fiscal pressures outside of this investment, including caps on international students, rising operational costs driven by inflation, and the structural impacts of years of constrained funding,” Vaughan wrote.
She said those factors have placed increasing pressure on the institution’s finances.
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“Unfortunately, we have arrived at the time when we must make more fundamental choices,” the letter states.
Humber said the voluntary exit program is being introduced in an effort to minimize involuntary job losses.
The program is open to all full-time employees, including the executive team, and offers financial packages for eligible staff who choose to leave.
Employees have until March 9 to indicate their interest.
The institution says it will assess participation levels after the deadline before determining whether further workforce reductions are required.
The move comes amid broader financial challenges facing Ontario’s publicly funded colleges, with the past year being marked by falling revenue from international students and the continued freeze on domestic tuition.
Several colleges, including Seneca and Algonquin, have announced campus closures, while others, such as Sheridan College, have suspended dozens of programs.
Other institutions have also reduced staffing levels.
Meanwhile, the Ontario government has defended its funding commitments to the post-secondary sector.
“We’re investing a record amount. No one’s ever invested upwards to seven billion dollars in our colleges and universities. Those are staggering numbers,” Premier Doug Ford told reporters on Wednesday.
Ford also praised Humber, calling it the largest college in the country.
“I wish them all the best, drive efficiencies, run it like a business, educate our kids for jobs of the future.”
Humber acknowledged the uncertainty created by the staffing review and said further updates will be provided once decisions are finalized.
“Change is never easy. I believe our community will emerge from this time stronger, more agile, more innovative,” Vaughan wrote.
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