Editor's Note: A quote in this article was incorrectly attributed to Ryan Mathre, a spokesman for Carlson School of Management, but was actually said by Johnny Thompson, Director of Strategic Communications at Carlson. The story has since been edited accordingly. As the United StatesâÄô unemployment rate nears the double digits, faculty, staff and students await the verdict on the loss of more than 1,200 jobs at the University of Minnesota. In response to a 7 percent decrease in state funding and $95 million in internal cuts, University President Bob Bruininks proposed cutting 1,240 jobs or about 5 percent of the UniversityâÄôs workforce in his 2010 budget proposal. The Board of Regents will vote on Bruininks proposal on Wednesday. In addition to about 370 layoffs or âÄúnon-renewals,âÄù more than 200 faculty positions will be left open and 280 staff and 160 student positions will be eliminated. The University also offered retirement incentives to employees, which will leave about 200 positions open.