The health system first announced its restructuring efforts in February. That same month, Banner eliminated some leadership positions. The system issued a second round of layoffs in early March and told “a small number” of physicians their positions would be eliminated. In late March, Banner said it was hoping to achieve $65 million in savings this year through several initiatives, including a program that allows certain employees to end their employment early in exchange for continued pay and benefits for a period of time.
The restructuring process resulted in nearly 500 jobs being eliminated across the organization. However, some of those employees will fill other positions within the Banner network, according to The Arizona Republic.
The system also made changes in the C-suite. Some top executives at Banner, including the COO and chief clinical officer, will take on additional duties due to the overhaul. Banner also created the new position of chief strategy officer and will eliminate the chief administrative officer post. The current CAO Ron Bunnell is retiring next January and will serve as interim CFO until Banner recruits a permanent finance chief, according to the report.
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