Bangor University is £13m in deficit, according to its delayed financial report which has just been published. Staff at the university have responded by saying they are "worried sick about the forced loss of their livelihood", with hundreds of jobs going and some employees facing compulsory redundancy as the university desperately tries to balance the books. All other universities in Wales published their annual financial reports either late last year or earlier this year. They are all under pressure with only two, the University of Wales Trinity St David and Wrexham - posting a surplus. In its report, Bangor University included warnings from its Vice Chancellor Professor Edmund Burke of financial problems ahead. A combined deficit of more than £70m is expected to be reported by universities in Wales at the end of this academic year - but the figure could well be higher. Si gn up for our free daily briefing on the biggest issues facing the nation sign up to the Wales Matters newsletter here . A Bangor University spokesperson said: "Bangor University has published its financial statements for the year to 31 July 2024. Whilst they are normally published in December, this year they were delayed because of the need to renegotiate some of the terms of the loans. "The year to 31 July 2024 was challenging with income falling by 4% to £170 million. This was largely due to a reduction in EU research grant income as schemes have been closed after Brexit. In the year there was an underlying deficit of £13m The financial savings action currently underway is designed to improve financial performance, the university is making good progress on delivering the savings needed. " Dr Vivek Thuppil, UCU union representative and lecturer at Bangor University, said staff were under enormous strain as a result of cuts, which would also affect students:. “The financial difficulties at Bangor University has hit our members hard. At the university, 250 staff are already leaving as a result of accepting voluntary severance," he said. "This is already resulting in severe impacts on staff workload for those left behind next year. Unfortunately, despite this, the university is still aiming to make a further reduction of 100 staff, including through the process of compulsory redundancy if necessary. "Our members are worried sick about the forced loss of their livelihoods. No university in Wales has gone down the route of compulsory redundancy in more than a decade, and it is vital that Bangor University is not the first one to cross this ignominious rubicon, which could cause a domino effect in the rest of the country." Dr Thuppil called on the Welsh Government to help Bangor University "as a major employer and generator of economic activity in north Wales", and said the university should use some of its reserves instead of cutting jobs. In the report Professor Burke and Bangor University council chair Marian Wyn Jones blamed factors beyond the university's control for financial troubles. "The university continues to face unprecedented challenges due to historically static tuition fees for home undergraduate students which are set by the government, persistent inflationary pressures, and policy changes on international student visas," Ms Wyn Jones said. The Vice Chancellor added: " We are taking steps to bring our costs down to a sustainable level and to consider opportunities to grow our income." Earlier this month Bangor University, which has around 2,000 staff, announced a further 78 job losses on top of 200 already announced in February, saying it could not rule out compulsory redundancies. Its annual report shows that 26 of Bangor University staff, excluding the Vice Chancellor received pay (excluding employer's pension contributions) of between £100,000 and £184,999 in 2023-24 compared with 18 paid between those rates the previous year. Hundreds of job losses have also been announced Cardiff University , Cardiff Metropolitan University and the University of South Wales, while Swansea is carrying out a "curriculum review" and the University of Wales Trinity St David has shut its Lampeter campus. Earlier this week Cardiff University, which faced outcry at proposals to close entire departments in wide ranging cuts, rowed back again on its plans. It said it won't now shut its music and modern languages courses having also previously shelved its proposed closure of the school of nursing. But proposals to close ancient history, theology and religion courses are still on the table with the revised cuts proposal going for final approval to the university's council on June 17. In January Cardiff University planned to axe 500 jobs but has now reduced that to 138 thanks to staff taking voluntary redundancy and savings plans submitted by departments. Around 400 staff are still under threat of redundancy there and many have left already, the UCU has said. Cardiff Met still aims to cut up to 14% of its teaching workforce with compulsory redundancy notices served in April. The proposed compulsory redundancies come on the back of three rounds of voluntary severance. Up to 61 academic staff are under threat of compulsory job losses there with a total 100 jobs at risk," the UCU said.