NUS Borrows More Money, Cuts Half Its Staff To Avoid Bankruptcy mdi-fullscreen

The National Union of Students, like any socialist regime, is borrowing yet more money to avoid bankruptcy. In November Guido revealed that NUS Group made a massive loss of £5.4 million last year and was on course to go bankrupt by April…

The NUS has undertaken sweeping measures to try to avoid going bankrupt. This week the organisation told its affiliated Students’ Unions

“In order to ensure NUS’ solvency, timing is of the essence. For example, the budget had to be agreed and available for presentation to the bank on 22 January, so we could pursue our application for a loan to avoid insolvency in April 2019.”

But it doesn’t stop there, a letter leaked to Guido reveals that the NUS Finance Committee has also approved that they will, seemingly as a condition for the new loan, be “putting up our London HQ for sale/rent.” Additionally, after suspending elections, the NUS is will be making some 54 paid staff members redundant. The NUS confirmed that “NUS Group will now employ roughly half the number of staff it did this time last year.” The leftist students running the organisation are learning the lesson that profligate spending leads to both savage cuts AND more borrowing…

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mdi-timer January 24 2019 @ 08:44 mdi-share-variant mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-printer
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