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100 ORAL ROBERTS UNIVERSITY EMPLOYEES GET THE PINK SLIP: But former president, Richard Roberts, gets nearly $450,000 separation pay-off

(November 19, 2008)

Oral Roberts University will lay off about 100 employees; the announcement coming days after a settlement with its scandal-plagued former president. The layoffs total roughly 10 percent of the university's work force.

Meanwhile, the nearly $450,000 separation agreement with Richard Roberts, son of the university's founder, comes after allegations he misspent school funds to live in luxury while the school was in the red.

Officials say the layoffs and payoff are unrelated and the employees would have been released anyway. 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, but that's been whittled down. (Source: OneNewsNow.com/AP)

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