At least 200 jobs will be axed by the University of Canberra in efforts to cut $50 million out of the university's expenditure by the end of 2025.
The National Tertiary Education Union called for a federal parliamentary inquiry into university governance in the wake of the announcement.
According to an email circulated to staff on Monday, up to nine senior manager positions are expected be made redundant, with hundreds of jobs to be removed this year and in the first half of next year.
"Some will be found from positions that are or become vacant, and contracts that are expiring, but redundancies seem inevitable," vice-chancellor Professor Stephen Parker said.
Staffing positions in the university's five faculties and in its professional services will not be exempt from job losses, Professor Parker said.
"The university is sustainable on its current funding levels if it is re-balanced and managed prudently," he told staff.
Professor Parker said the university "apologised unreservedly" to the community for job losses and said it had spent "beyond its means".
"I expect at least 200 staffing positions to be removed this year and in the first half of next year," Professor Parker said.
"Some will be found from positions that are or become vacant and contracts that are expiring, but redundancies seem inevitable."
University staff were notified of the jobs cuts during a packed town hall meeting early on Monday.
Jo Washington King, who works as a professional staff member, said she was considering leaving her job after six years at the university.
"I am considering leaving because you feel unsupported. You don't feel as if you are important, you are just another number to them," she told ACM.
"I've been very involved in developing the university's values, helping to do professional staff workloads guidelines. I've been involved a lot and i've just thought, enough is enough."
Staff facing involuntary redundancies are expected to be notified by December 5.
The decision comes after staff were told in August the university's deficit had blown out to $36 million this year, leading the university to eliminate the role of deputy-vice chancellor research and enterprise.
It also follows the resignation of the university's vice-chancellor Paddy Nixon in December 2023.
Last week, the Australian National University announced a wave of potential jobs cuts as the institution reported a $200 million deficit this year.
NTEU ACT division secretary Dr Lachlan Clohesy said millions spent on consultants, as well the replacement of an interim vice-chancellor, represented "failure after governance failure" on behalf of the university.
"Millionaire vice-chancellors strip out wealth to enrich themselves, before moving on and leaving a steaming mess behind them," he said.
"It is time that territory, state, and federal governments seriously addressed university governance."
NTEU UC branch president Dr Craig Applegate said staff have been left "shocked and anxious" in the aftermath of the decision.
"In a cost-of-living crisis, many UC staff will head into the Christmas break not knowing whether they'll have a job to come back to in the new year," he said.
The University of Canberra will hold another staff town hall meeting in November.
