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.)