Temple University plans layoffs to makeup for falling enrollment

Temple University's president says layoffs are "inevitable" as the school tried to close an $85-million-dollar deficit due to falling enrollment. President John Fry says his goal is to return the school to a balanced budget within three years. The first step is cutting $60-million-dollars. He says he sent every school, college and administrative unit a "budget reduction target". Some faculty have already accepted early retirement and some vacant positions have been eliminated. There are some encouraging signs of a turn-around in enrollment. Photo Credit: Getty Images Fry says first-year and transfer deposits are up year-over-year.