Up to 250 jobs could be axed at the university

The institution, one of the biggest universities in Scotland, said it needed to balance its budget.

A university spokesman said it was set to begin talks with the unions about a voluntary severance scheme.

Unions warned that they would fight any compulsory redundancies after newspaper reports suggested that up to 250 jobs could be under threat.

Bill Stewart, vice president of the Association of University Teachers at Glasgow University, said: "It's an awful lot of staff. We are really quite concerned that the university finds itself in this position once again.

"Only five to six years ago there was another voluntary severance scheme for exactly the same reason.

"At the time we were told that once that was over and we were on a nice even keel, everything in the garden would be rosy. But now we are back in the same position."

We are really quite concerned that the university finds itself in this position once again. Bill Stewart AUT

Mr Stewart added that the university had so far not ruled out compulsory redundancies and that strike action could be considered further down the line.

"We will be asking to see the books and will take it from there," he said.

"Obviously it would be best all round if the university gets itself financially on an even keel again on the basis of voluntary job losses."

A university spokesman said: "The University of Glasgow is engaged in a major strategic exercise to strengthen the university's reputation and competitiveness.

"We need to balance the budget, invest in our areas of excellence and strength, and support income generation.

"We are about to consult with trades unions on a voluntary severance scheme and do not wish to comment in advance of that consultation.

"To balance the budget we need to cut costs by at least �7m, and we can do this while supporting our key areas of excellence."