Toronto's police board has struck a deal with Chief Bill Blair on budget cuts that do not require layoffs -- at least for now.

The force decided that it will cut 4.6 per cent from its 2012 budget, bringing total spending down to $936.3 million.

A further 5.4 per cent will be cut from the 2013 budget which may lead to some layoffs that year.

Mayor Rob Ford had demanded that all city departments find 10 per cent in savings for the 2012 budget.

Earlier in the month, Ford said he wouldn't budge on his demand.

"I've made it quite clear that we're looking for 10 per cent and I'm not leaving any rock unturned," Ford said in early October.

Blair had earlier said he would have to lay off police officers in order to meet the reductions.