OSU Foundation Cuts 15 Jobs, Citing Economy

Associated Press

STILLWATER, OK -- Citing budget shortfalls caused by the economic slowdown, the Oklahoma State University Foundation has cut 15 jobs and closed two regional offices.

Becky Endicott, a spokeswoman for the foundation, says offices were closed in Dallas and Houston.

Foundation President and CEO Kirk Jewell says he was among a handful of the foundation's top executives who also took a pay cut.

Jewell says the foundation has to have a break-even budget and that the executives took the pay cut to help reduce the number of jobs that had to be eliminated.

Endicott says that as the economy improves, it's possible that the OSU Foundation could reopen the Dallas and Houston offices.

The foundation serves as a primary fundraising agency for OSU.