The University of Alberta is laying off dozens of faculty and staff to help cut its $14.7-million budget deficit, CBC News has learned.

Forty-three staff members have already been laid off and another 10 to 35 people could get pink slips by September, the university said Monday.

More than 180 staff and faculty have already opted for early retirement packages. The status of several contract positions is unknown, the university said.

School administrators told CBC News that they hope the reductions will trim costs by five per cent.

The university's provost, Carl Amrhein, said the university expects to know by September exactly how many people will lose their jobs.

"We do not yet have estimates of the number of contract positions that won't be able to be renewed as a result of the budget constraints, and not all units have completed their budget calculations," he said in a statement.

"However, by the fall we will have a clearer idea of the total number of people who will be affected. Ultimately, we expect between 50 and 75 people to lose their jobs."