August 14, 2013
Maine Med to lay off 50 employees
Maine Medical Center in Portland will lay off 50 employees on Aug. 16 as part of a new budget that also includes 120 early retirement buyouts and other cutbacks.
The Portland Press Herald reported the hospital will also eliminate 175 vacant positions and reduce pay for the hospital’s top executives by an average of 12.5%.
In July, the company offered early retirement incentives to nearly 400 employees in an effort to reduce the number of potential layoffs.
The paper reported the hospital hopes the measures will address financial challenges caused by reduced reimbursements from governments and commercial payers, bad debt and a declining number of services rendered.
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