At the University of Colorado, Boulder:  "[W]e propose to rebalance the ratio of tenure-track faculty to instructors. Currently, that ratio, by head count, is 3.3:1 (TTT to instructors). Reducing tenure-track faculty by 50 and adding 25 instructors would yield a new ratio of 2.8:1. Accounting for related savings, making this move would free $6.2 million annually."  [Instructors typically teach 4/4 loads, rather than 2/2 loads.]

At the University of Vermont:  The "plan would terminate majors including Geology, Religion, Asian Studies and several language programs such as Greek, Latin and German. Minors in many of these subject areas would also be cut, plus others in Theatre and Vermont Studies. Master’s programs to be cut include Greek & Latin and Teaching Latin, Geology and Historic Preservation.  The plan would wipe out the college’s Classics, Geology and Religion departments. Other departments would be consolidated."  Some tenure-stream faculty may lose their positions altogether.

ADDENDUM:  And wealthy private universities are offering financial incentives for faculty to retire.  Yale is offering up to 200K for faculty who retire by next summer, while I know Penn is offering two years of salary as a retirement incentive to certain senior faculty to retire by next summer (for faculty in the professional schools this could amount to 750K or more).