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Aiming to eliminate a budget deficit that ballooned to more than $200 million, USC began widespread layoffs in July.

USC cut nearly 1,000 jobs, though as many as 200 of those who received layoff notices could remain with the university in new positions.

The University of Southern California is in the throes of its most aggressive cost-cutting drive in memory — a grinding period of financial austerity that has shaken the university’s moneyed reputation and raised doubts among faculty and staff about the school’s ability to sustain itself as a top-tier institution.

Aiming to eliminate a budget deficit that ballooned to more than $200 million, the private school has cut nearly 1,000

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