Lancaster Uni acquires The Work Foundation
LANCASTER University has acquired The Work Foundation, the respected London-based think tank led by Will Hutton.
Under the terms of the deal the foundation, an independent charity, will continue to operate from its London base and retain Mr Hutton as executive vice chair.
The move came after a winding up petition, citing a £26.9m pension deficit, was filed at the high court. The university claims the purchase will minimise losses to creditors, including pension fund members.
The body, which employs 43 staff, started out as the Industrial Society but now focuses on improving economic performance and the quality of working life.
In a statement the university said the deal would enable both organisations to have an increased influence on the “change agenda”.
Managing director of The Work Foundation, Stephen Bevan, said: “There are many areas where our work and that of the University are very complementary. Our existing programmes of research on the world of work are strong and influential.
“But being able to work in partnership with eminent experts in a number of disciplines and having access to new networks both in the UK and overseas will further strengthen our impact.”
He added: “This alliance will help us consolidate our reputation for excellence in our analysis of labour market and employment trends and our ability to advise policy makers and organisations on how to meet the challenges of the future.”
