Universities are being hammered by a massive downturn in the $5 billion foreign student industry. Some are now considering asking staff to take pay cuts to help their institutions survive.
The Tertiary Education Union says the universities have strong balance sheets and surpluses accumulated in earlier years.
Derek McCormack is Auckland University of Technology vice-chancellor and chairs Universities New Zealand - a committee representing the country's eight universities.
He speaks to Corin Dann.
