Up to 10 senior manager jobs could go from Coventry City Council and services such as libraries, street cleaning and social care could be cut to save cash.
The authority has to save more than £10m over the next year to make up a budget shortfall.
Some of the proposals put forward also including increasing council tax by 2.5% from April.
A report outlining budget saving ideas will be put to the cabinet on 22 September.
If the plans are approved by the cabinet they will go out to an eight-week consultation to taxpayers.
Earlier this year, the authority lost 190 posts and increased council tax by 3.7% to meet a budget shortfall of £13m.
Price rises, including energy costs, and a drop in capital receipts, the income the council gets from selling land and assets, were blamed for the shortfall.