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Ike-damaged hospital, med school laying off 3,800

AP/Yahoo News, November 14, 2008
The University of Texas Medical Branch in Galveston will lay off about 3,800 workers because it is running out of money. The University of Texas Board of Regents said in a news release that the hospital would have no money to operate in about three months at its current spending rate. Ike caused nearly $710 million in losses to the hospital when it struck the Texas coast in September and officials have said insurance covered only about $100 million of that.