“Due to the financial challenges facing the healthcare industry, we have restructured areas within the organization to better align with today’s healthcare environment’s needs and drive operational efficiencies,” the system said in a statement to Becker’s on January 24.
The affected roles include both filled and vacant positions, with layoff dates varying depending on the role. The reductions are not limited to a single department.
“The caregivers impacted by these changes can apply for other jobs throughout the organization or may opt to accept a severance package,” the system said. “We continue hiring and have many job openings across the health system.”
Cleveland Clinic currently employs 83,000. It reported an operating income of $43.4 million (1.1% margin) in the third quarter of 2024, reversing a $14.9 million operating loss (-0.4% margin) in the same period the year prior. Days of cash on hand was 315 as of Sept. 30, compared to 308 for the same period in 2023. Nationwide labor shortages for licensed caregivers have compounded financial and operational pressures, Cleveland Clinic noted in its Q3 financial report, with agency utilization and costs remaining elevated in 2024 but below levels experienced during 2023.
