No this is not true. We are in fact increasing our support and resources for research students. Following is an excerpt from a recent statement made by the University Librarian.
"Support for academic staff and research higher degree students will be delivered by Library Research Information Services. Three teams of disciplinary librarians will provide substantial support in areas such as literature searching for grant applications, helping with the description and management of research data sets, research metrics, training, mentoring and supporting research students and advanced information skills training."