Tower Health to cut 1,000 jobs

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Citing a $212 million loss in revenue through May due to the COVID-19 pandemic, West Reading, Pa.-based Tower Health plans to cut 1,000 jobs, according to the Philadelphia Inquirer

The layoffs will affect about 8 percent of Tower Health's 12,355-person workforce. 

Tower Health said the reduction in workforce was necessary after it lost revenue due to the suspension of elective care. 

In April, Tower Health furloughed 1,000 employees. It is not clear how many of the furloughed workers are losing their jobs permanently, according to the report.

The system, which has received $66 million in funding from the Coronavirus Aid, Relief, and Economic Security Act, recorded an operating loss of $91.6 million in the quarter ended March 31.

Read the full report here.

 

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