Stockholm economics schools facing economic crisis

The two largest schools of economics in Stockholm, Handelshögskolan and the University of Stockholm, are in a financial crisis, reported DI on Wednesday.

Degree courses and training are under threat due to a lack of funding and there’s a shortfall of up to 21 million crowns at Handelshögskolan. The University of Stockholm School of Business is 17 million off target in meeting its yearly budget.

Both institutes have to cut their outgoings dramatically. Rising staff costs and a move to new premises has contributed to increasing costs and faltering balance sheets. Sikander Kahn, the Head of Department at theUniversity of Stockholm University School of Business, has been relieved of his management duties. He has retained a teaching post but up to sixteen other jobs may be axed.

Sources: Dagens Industri