BRADFORD College has successfully been able to restructure its historic debt in a bid to make its financial position, but more than 130 jobs are still at risk.

The college made a successful application to the Government’s Restructuring Facility to restructure its debt and settle its finances.

However, it has said its current wage bill is “not sustainable”, and the loss of jobs is “essential” to secure the college’s future.

The proposed losses have sprung the University and College Union to open ballots on potential strike action at the college over the job cuts.

The UCU has said the loss of staff would “hit students the hardest” and give young people fewer opportunities.

A spokesperson for Bradford College said: “The proposed reduction of jobs is an essential part of our ability to secure the College’s financial future so that we can continue our ambition to transform lives.

As a result of well-publicised financial difficulties, which came to light in 2017, the College can confirm that it made a successful application to the Government’s Restructuring Facility.

“The restructuring facility allows the College to restructure its debts and to deliver an agreed plan which is closely monitored by the relevant bodies.

“The plan ensures that the College continues to deliver savings over the coming years in order to secure the long-term future for the College.

“The funding will enable the College to move forward with its Strategic Recovery Plan to enable a more secure financial position.

“The College had to go through a rigorous process to obtain the funding and is grateful to the Education and Skills Funding Agency for its assistance.

“The College would also like to express its gratitude to its main bank, Lloyds, for its understanding and continued support throughout the process.

“The restructuring facility will enable the College to operate more efficiently on a sound financial footing to continue to transform lives by providing education, enterprise and employment for all communities in Bradford and the wider city region.

“This funding has allowed us to restructure historical debts and reduce our overall debt level. It has also enabled us to carry out improvements to College technology and buildings, including the purchase of new learning resources for student use and student facilities.

“However, this funding is a one-off, will not be repeated and cannot be used for ongoing staff costs.

“The College continues to face significant financial challenges, as does the entire FE sector, and our wage bill is not sustainable at its current level.

“In order to protect Bradford College’s long-term future, we must make the required savings set out in the recovery plan.

“We appreciate that this is a difficult time for our hardworking staff and remain committed to open and honest conversations with all staff. We also continue to consult with the recognised trade unions.”

A separate union ballot is also being held regarding industrial action over pay at the college, and both will close on Tuesday, June 18.

Julie Kelley, regional official for the UCU, said: “Job cuts will ultimately hit students the hardest.

“They would mean fewer learning opportunities for the people of Bradford, and a huge loss of valuable expertise at the college.

“Industrial action is always a last resort but our members feel they have been left with no option but to ballot for strike action in order to defend jobs and pay.

“We want Bradford College to halt its damaging plans, rule out compulsory redundancies and work with us to develop alternative approaches and address members’ concerns.”