AUSTIN (AP) - The University of Texas Medical Branch in Galveston, still reeling two months after Hurricane Ike, is laying off about 3,800 people.
UT System regents today announced they were forced to make the job cuts because the teaching hospital is running out of money.
UTMB's current rate of spending, including wages and benefits for faculty and staff who have not returned to work, exceeds revenues by almost $40 million per month.
Despite the layoffs -- officials have vowed to keep UTMB open.
Ike hit the Galveston area on Sept. 13.
The storm caused nearly $710 million in losses to UTMB. Officials have said that only about $100 million of the damage is covered by insurance.
The Galveston County Daily News reports UTMB has not yet identified which employees will be laid off -- but they'll be paid through January.
(Copyright 2008 by The Associated Press. All Rights Reserved.)