The Pennine Acute Trust runs North Manchester General, Fairfield in Bury, Rochdale Infirmary and the Royal Oldham Hospital and employs 10,000 staff.
It expects to have to save £45m but said that could rise once it knows the services GPs want to commission.
Chief executive John Saxby said he hoped to avoid compulsory redundancies.
“We still have a reasonable level of natural turnover of staff in any one year,” Mr Saxby said.
“We will therefore set out to manage any reduction in posts by redeploying staff into vacancies.
“Where we are incurring costs for temporary staff we will seek to redeploy permanent staff into those posts.
“I sincerely expect that at the end of this process everyone who wishes to continue to work for the trust will still be with us.”
Mr Saxby has said the “scale of the financial challenge facing us is unprecedented”, so the savings could not be achieved by cutting waste or reducing non-pay expenditure alone.
He said “patient safety and performance” would not be compromised.
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