Mount Sinai CEO, exec team take pay cuts

The CEO and executive leadership team at Mount Sinai Health System will take pay cuts to help offset the significant COVID-19 costs the New York City-based health system is facing.

Mount Sinai President and CEO Kenneth Davis, MD, and his executive team offered and agreed to take a 50 percent pay cut, according to information the health system shared with Becker's Hospital Review April 9. The pay cuts will continue "as long as necessary so that these dollars can be directed to our front lines in this fight," the health system said.

Mount Sinai, which is located in the U.S. epicenter of the pandemic, said in addition to "the personal losses and sacrifices being made every day," COVID-19 has significantly affected business operations. The health system said the executive pay cuts don't come close to covering the hundreds of millions of dollars it is losing per month.

More articles on compensation:
Texas Children's Hospital to provide special stipends for employees
UPMC protects 89,000 workers' salaries through May 9
UMass Memorial CEO donates pay; Jackson Health execs take pay cut amid COVID-19

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