Kidderminster College today announced merger proposals as bosses revealed they expect to make a loss this year.
Principal Andy Dobson said that a fall in funding coupled with a major IT investment means the college is facing a shortfall of £325,000 this financial year.
The college wants to merge with another college or education institution and is inviting applications from interested parties next month.
Bosses hope to have a firm merger plan in place by the end of the year, they said today.
Principal Andy Dobson said it was of the ‘utmost importance’ to provide job security for staff and he would seek assurances from any potential partners before a move was ratified.
He said there would be ‘no compulsory redundancies’ and vowed that the plans were aimed at boosting the college further rather than making cutbacks.
Mr Dobson said: “We have set no compulsory redundancies as one of our key criteria because it is of utmost importance to us to provide continued job security for our excellent staff.
“That is why we are asking any proposer to be very specific as to whether their proposal would meet that requirement.
“We will evaluate any proposals against our criteria and are completely confident that we will be able to avoid compulsory redundancies.”
However Mr Dobson revealed the college, along with other public sector institutions, was feeling the pinch during the tough economic conditions and Government cutbacks.
He said the college had ‘very strong finances’ but that they had to look to make the best of the resources available. The college is financially strong and would not struggle to sustain its provision,” he said.
“Public sector funding is challenging, and will remain so for the foreseeable future, but our proposal is about increasing opportunities and making best use of the resources available, not a response to falling income.”
Possible partners have until the end of October to submit their proposals, when they will be assessed by the college.
David Cory, chairman of the college’s governors, said: “This is an exciting time for Kidderminster College. We are good at what we do, and merging with the right merger partner, or partners, will help us be even better.”