More than 100 University of Otago staff have been made redundant in a bid to cut costs.
Earlier this year, the university confirmed it needed to reduce its annual operating budget by roughly $60 million and it was asking for voluntary redundancies.
But the University of Otago confirmed it would go ahead with voluntary redundancies.
University of Otago's Acting Vice-Chancellor Professor Helen Nicholson said 107 of the 190 applications for redundancy have been accepted.
It is the equivalent of 81 full-time workers.
It would save $1m this year and created a permanent saving of $9m from 2025 year on year, Nicholson said.
"Although the voluntary redundancy round has closed, we will still consider applications on a case-by-case basis.
"The university remains in deficit and requires permanent savings of $61.5m by the end of 2025 so we can return to a surplus in 2026."
The university has identified opportunities to save $38m, but it has a further $23.5m to find, she said.
But that meant further redundancies could be on the cards as more savings were needed, Nicholson said.
Close to $26m needed to be saved this year.
"We have already achieved savings of $13m. We have identified a further $8.7m of possible savings which would result in $21.7 of the $25.8m.
"We still need to identify $4.1m of further savings this year.
"The university continues to work locally and nationally, alongside unions and OUSA [Otago University Students' Association] to seek additional funding opportunities."
The university confirmed the redundant staff would not be leaving immediately and it would be a more gradual process.