[gquin035]

Oral Roberts University to lay off 100 employees

By JUSTIN JUOZAPAVICIUS, Associated Press Writer – 2 hrs 34 mins ago

TULSA, Okla. – Oral Roberts University will lay off about 100 employees, days after it agreed to a near-$450,000 separation agreement with its former president who resigned amid a spending scandal.
The layoffs represent roughly 10 percent of the university's work force, but the school did not specify which departments would be targeted.
"You can't spend more than you're taking in," said ORU interim president Ralph Fagin. "This is the last choice you want to make because we have such great employees."
The school, with a budget this fiscal year of about $91.8 million, is more than $17 million in debt. Last year, it revealed it was more than $50 million in the red.

http://news.yahoo.com/s/ap/20081118/ap_ ... ts_scandal

[Ed Dantes]

Well, that's what happens when you're run into the ground by charlatans.

[LUconn]

maybe this goes along with having a successful basketball team.