The affected employees include 15 physicians working at the health system. None of the 175 individuals will receive a severance package but will be offered counseling, according to the report.
The layoffs are in response to a $50 million budget shortfall caused by rising employee pension costs, reductions in Medicaid reimbursements and higher costs for health coverage and supplies. The layoffs come shortly after 77 employees, including 26 nurses and one physician, opted to take voluntary retirement packages in October, according to the report. The workforce reductions are expected to save the health system approximately $19.5 million.
Related Articles on Hospital Layoffs:
Providence St. Joseph Medical Center in Montana Lays Off 10 Employees
Dartmouth-Hitchcock to Lay Off Up to 100 Employees
St. Joseph Health in Kentucky to Lay Off 36 Employees
At Becker's 4th Annual CEO + CFO Roundtable, taking place November 2–5 in Chicago, more than 1,500 hospital and health system executives tackle decisions that determine whether organizations thrive or merely survive: protecting margins under cost pressure, choosing where to grow, renegotiating payer relationships, stabilizing the workforce and proving real ROI on technology. This is where leaders work through them together, face-to-face. Apply for complimentary registration now.
