Oral Roberts University to Lay off 100 Employees

TULSA, Okla. (AP) - Oral Roberts University will lay off about 100 employees, days after it agreed to a costly separation agreement with its former president who resigned amid a spending scandal.

The layoffs represent roughly 10 percent of the university's work force.

The school, with a budget this fiscal year of about $92 million, is more than $17 million in debt.

The announcement of layoffs came days after Oral Roberts University completed a separation agreement with former president Richard Roberts. The son of the school's namesake-founder stepped down last year amid allegations he misspent school funds to live in luxury.

Under terms of the agreement, ORU will pay Richard Roberts nearly $450,000 in salary for the remaining term of his appointment, which was to run through November 2009.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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