At a time when universities internationally participate in continual processes of restructuring, repositioning and reprioritising, calls for 'voluntary' redundancy among teaching and learning staff become frequent events. Australian and New Zealand academics, whose stories inform this study, have, particularly, been made subject to severance, voluntary or otherwise, at a time when the modernised university has become the managed, neoliberalised university and, over time, the 'ruined' or 'toxic' university. This study is a narrative enquiry aiming to capture, re-present and examine the stories of mid- and late-career higher education teaching professionals during this unsettling period of disturbance and flux. In the light of studies on 'voluntary' redundancy and scholarship critiquing the mechanisms of power and repression of the corporatised university, this researcher asked 12 mid-career academics why they really took redundancy packages with a view to exposing the experienced truth behind the official institutional story that academic professionals 'chose' voluntary redundancy packages.