July 1, 2013
Maine Med to offer buyouts to 400
Facing a $15 million year-end budget gap, Maine Medical Center is offering buyouts to about 400 employees nearing retirement.
The Bangor Daily News reported the Portland hospital plans to introduce the early retirement incentives to employees this week in an effort to avoid layoffs. CEO Richard Petersen wrote in a letter to employees that compensation and benefits make up around 60% of the hospital's expenses.
In May, the hospital declared a hiring and travel freeze to deal with the budget shortfall.
In June, the hospital's board of trustees approved a $40 million expansion plan to add five operating rooms to the hospital's Portland campus.
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