11/10/2011 03:17 EST | Updated 01/10/2012 05:12 EST

Pink slips to be handed out at Toronto city hall after 230 workers take buyouts

TORONTO - Pink slips are about to be handed out at Toronto's city hall, following a lower-than-expected number of people taking buyouts.

The city manager says 700 positions were expected to be cut but only 230 people ended up taking the buyouts.

Joe Pennachetti says layoffs will be needed to help ease the cash crunch affecting the city.

The total number of staff being let go will be known by the end of the month.

The city estimates it will save about $20 million by giving the 230 buyouts.

Pennachetti says the news of impending layoffs shouldn't be a shock for city staff.

"They know that 10 per cent cuts across the board is difficult and is going to mean staff impacts," he said.

(AM640, 680News)