More than 1,050 people currently work at the university, which has two campuses in Carlisle and others in Ambleside, Lancaster and London.
The equivalent of up to 70 full-time jobs could go across its sites.
Consultation with unions and staff has started as university leaders project a five per cent drop in income this year, possibly about £3m.
Academics and non-teaching staff are affected but The Cumberland News understands that the proposals could affect a greater number of those in supporting roles.
The university hopes to avoid or minimise potential compulsory redundancies.
Contributing factors have included a reduction in student numbers, a decline in the number of 18-year-olds locally, and other national reforms.
Proposed staff cuts come as the university looks to reshape and reposition itself. Its board of directors will receive a strategic plan later this month, setting out how the institution aims to evolve over the next three years.
Vice-chancellor Professor Julie Mennell wants to see the university become a lead provider of STEM, science, technology, engineering and maths.
The environment and rural and visitor economy – along with business and professional services – are also other target areas.
Mrs Mennell said: “I am confident about the future success and sustainability of this university.
“The strategic plan reflects our focus and priorities and there is a strong emphasis that it is for the benefit of Cumbria.”
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