Rapid City, S.D.-based Monument Health has laid off at least 80 employees, equating to about 2 percent of its workforce.
The positions are primarily corporate service roles and will not affect patient services, the five-hospital system told Becker's. Unfilled corporate service positions were also eliminated.
Monument said it will provide severance packages and career guidance services to support laid-off employees and continue to recruit for patient service positions.
A statement sent to employees said that Monument will also trim executive pay by 20 percent, Black Hills Fox News reported.
"Monument Health has experienced significant operational and financial-related challenges over the past two years due to a number of different marketplace factors," Stephany Chalberg, public relations manager, said in a statement. "This includes two areas that have reached unprecedented levels: the rising costs of medical supplies and staffing, and the continued lowering of reimbursement rates."