(CNN) — More than 20 of Detroit, Michigan’s public schools may close and 600 teachers will be laid off in an attempt to reduce a projected $303 million deficit, the state-appointed financial manager of the schools said Thursday.“The bottom line is that we have too many buildings with too few students,” Detroit Public Schools’ emergency financial manager, Robert C. Bobb, said at a news conference. “The reality is that schoolhouse buildings will have to be closed and consolidated.”

Bobb said he welcomed feedback from parents in town hall meetings and other forums, and he said he expected to make a final decision on the closings of 23 schools by May 8.

According to the Detroit Free Press, the closings could affect up to 7,500 students.

Bobb also said that 600 teachers would get layoff letters.

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