The Toronto District School Board voted to cut 256 teaching jobs Wednesday night in an effort to address its deficit.
The cuts will affect 88 elementary school and 168 high school positions, including special education and English as a Second Language jobs.
Board chairman Shaun Chen said he expects the positions will be eliminated through retirement and attrition.
The cost-saving measures were implemented to help offset a projected $16.5 million budget shortfall for the 2015-16 school year.
The board is also considering a proposal to rent out parking spots at its downtown schools after hours.
The TDSB educates more than 246,000 students at 595 schools in Toronto.