Franklin Community Health network to cut 40 jobs
Amid steady losses, Franklin County Community Health Network expects to lay off 35 to 40 employees from the 850-employee nonprofit.
The Morning Sentinel reported that network President and CEO Rebecca Ryder told local leaders Wednesday of the cuts and the financial challenges ahead for the health care network.
Ryder said the network has lost approximately $500,000 in each of the last seven months.
Eliminating positions — which is expected to come through layoffs — is part of the network's plan to reduce the organization's operating expenses by $6 million by June.
At the current rate, Ryder said the network's revenue for this year to date is down 13.3% from last year and is tied to an increase in charity care and unpaid patient bills and a decrease in government funding.
The hospital is owed $15.4 million from the state in MaineCare payments dating back to 2009 in addition to current revenue shortfalls.
Most Recent
Most Recent
Comments