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Far more administrative staff than faculty. That doesn't sound very productive. The cuts seem pretty small compared to the total number of employees vs the percentage drop in enrollment over the last couple of years.
Total salaries at OU are about $273 million, benefits are $123 million. I think they can find $26 million in there somewhere. Enrollment is down. Less revenue but also less need for staff. In non-academia, things like this happen all the time. Painful for those that get cut.
What is the website address?
Can you give a link to the website please? thought that would have been obvious.