The Massachusetts Bay Transportation Authority is hoping to use a voluntary retirement program and other incentives to reduce its staffing level by 300 workers — a move aimed at saving the public transit agency about $25 million.

MBTA officials say the savings will be used to help close an estimated $80 million budget deficit.

One of the programs is targeted at the more than 1,100 transit workers already eligible for retirement as of the end of the year.

The agency is offering a one-time cash incentive to encourage workers to take the retirement offer.

The T also is hoping to encourage the departure of workers not yet eligible for retirement, but who may be interested in leaving the agency.

The MBTA is trying to erase a structural deficit.