The University announced on Friday that it accepted all 423 Cornell employees who applied to participate in the optional Staff Retirement Incentive Program.

The SRI, which has originally publicized in February, aimed to reduce the size of the University’s workforce. Personnel costs for the University’s more than 10,000 employees comprise 60 percent of Cornell’s operating budget, according to Vice President for Human Resources Mary Opperman.

The University currently faces a shortfall of approximately $230 million in its operating budget.

Opperman said that the University will save money by eliminating “a majority” of the positions vacated by the 423 employees.

This story was originally published on March 16.

Addressing Cornell’s approximately $230 million deficit, President David Skorton summarized the University’s current financial situation and answered pointed questions from an audience of at least 200 this afternoon in an open forum aimed for faculty and staff in Statler Auditorium.

Most of the questions raised were centered on the subject of workforce reduction. Skorton said several times during the question-and-answer session that there would be more layoffs in the future.