Of those offered a severance package, 57 were also offered early retirement. The employees must make their decisions by Dec. 9.
The non-profit, 296-bed hospital will continue its $115 million expansion, which includes a surgery pavilion, medical offices and parking garage. The project is expected to be completed by summer 2011.
Hospital President and CEO Ron Johnson said the job cuts are a result of decreased patient admissions and Medicare payments, along with rising costs of uncompensated care, according to the report.
Mr. Johnson has taken a 10 percent decrease in compensation, while hospital vice presidents and administrative directors are taking 5 percent cuts, according to the report.
Read the Press of Atlantic City report on Shore Memorial Hospital’s buy-outs.
Read more about hospital employment or layoffs:
–5 Hospitals Implementing Mass Layoffs or Job Cuts
–10 Key Considerations for Medical Staffing in a Changing Healthcare Workforce
–7 Ways to Avoid Legal Pitfalls When Implementing Mass Layoffs
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.