Providence Health & Services lays off 210 employees

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Providence Health & Services, a 50-hospital system based in Renton, Wash., began eliminating jobs last week as part of a system-wide cost cutting plan, according to The Oregonian.

The system cut 210 jobs, which represent less than 1 percent of the system's workforce of more than 111,000.

The system is looking to reduce costs to improve its financial picture. Providence ended 2016 with an operating loss of $255 million on $22 billion in revenue.

"There has been a fundamental shift in our industry in that we are providing more care to more patients, but are receiving the same amount of revenue and often less to cover the costs," Providence spokesperson Colleen Waddell said in a written statement to The Oregonian. "We have worked to significantly reduce operational costs, such as vendor and supply contracts, non-critical capital projects and not filling non-critical administrative positions. Unfortunately, we have made the difficult decision to reduce some filled positions."

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