DALLAS (AP) – More than 700 Dallas teachers, principals and other employees have accepted the district’s offer to resign early to offset potential layoffs.

The Dallas school district’s incentive provided up to $10,000 for some educators with contracts to leave at the end of this school year.

Dallas Independent School District spokesman Jon Dahlander says about 40 percent of those taking the buyout had more than 30 years of experience.

Officials estimate the buyout will save the district about $45 million in salaries. It comes as a way to prepare for massive state cuts to public education that are expected.

The Dallas Morning News reports that the district had committed $6.4 million from its reserve fund for the deals to employees when the resignation incentive deadline ended Tuesday night.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)