Layoffs may occur at UMass Memorial Health Care, based in Worcester, Mass., due to a disappointing fiscal year, according to a Worcester Business Journal report.
UMass CEO and President John G. O'Brien and his executive team have been analyzing the system's business model. Reorganization efforts could include the elimination of full-time positions, the elimination of some business ventures and changes to employee pension plans.
Mr. O'Brien said there are no immediate plans for layoffs, but did say UMass needs to evolve to remain sustainable. The system is still in the black. It posted a $27.9 million surplus in the fiscal cycle ending Sept. 30, but that's still below the $62.6 million it expected.
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UMass CEO and President John G. O'Brien and his executive team have been analyzing the system's business model. Reorganization efforts could include the elimination of full-time positions, the elimination of some business ventures and changes to employee pension plans.
Mr. O'Brien said there are no immediate plans for layoffs, but did say UMass needs to evolve to remain sustainable. The system is still in the black. It posted a $27.9 million surplus in the fiscal cycle ending Sept. 30, but that's still below the $62.6 million it expected.
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