Managers at Kingsway College have pledged not to impose compulsory redundancies and offered concessions on new contracts to avert further industrial action by teaching staff.
As The TES went to press, staff were being told that enough volunteers had come forward to make up job losses required by the college recovery plan.
New contracts will also be revised to meet worries about teaching hours, holiday and notice periods. Managers, led by the new principal Richard Williams, are also offering talks over the use of controversial agency Education Lecturing Services (see story, right).
Mr Williams said: "The offer we are making to staff this week represents a constructive and sympathetic response to their concerns.
"We know that the majority of teaching staff wish to conclude discussions on this issue as swiftly as possible to enable the college to move ahead with its plans to secure its future."
Kingsway is pressing ahead with plans to close three of its central London sites as part of a package to clear a Pounds 4 million deficit.
No one from the local branch of the lecturers' union NATFHE was available for comment.