ONE of Britain’s richest universities was accused of “academic vandalism,” today as it bids to close a £140 million black hole in its finances by cutting jobs.

Just weeks after University of Edinburgh bosses warned staff “nothing was off the table” as they looked to cut costs, principal Sir Peter Mathieson has announced that cuts equivalent to around 10 per cent of annual spending will be required to balance the books.

He warned: “To make these recurrent savings we need radical university-wide actions, which will lead to a smaller staff base and lower operating costs.