TU's Endowment Shrinks

Friday, February 27th 2009, 10:24 pm
By: News On 6

News On 6

TULSA, OK -- The University of Tulsa was slammed by $300 million worth of bad news on Friday.  TU's endowment was slashed by a third as investment markets continue to falter.

The school is limiting overtime, freezing merit-based pay raises, and re-routing money from vacant positions.

The school says these cuts will help stave off lay-offs.