Talks between the university and CUPE Local 1393 broke off about an hour after a midnight strike deadline.
CUPE Local 1393 president Dean Roy said the two sides remain far apart on a pair of key issues.
"The big issues are job security…and the pay-equity system," Roy said.
"The issue was not money in the least. It was really those two things."
On the other side of the table, Alan Wildeman, the university president, said he's disappointed.
"They've walked away from greater job security, a wage increase and a commitment to maintain employment, not to start outsourcing all their jobs," Wildeman said.
"So they're on the street and we'll look forward to the opportunity to get our employees back to work someday."
The school has posted a statement on its website advising students that classes will continue and the campus will remain open.
The CUPE Local 1393 bargaining team had received a strike mandate earlier this summer.