Pay Cuts and Furloughs - Strategy for Financially Strapped Hospital to Stay Solvent

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Specializes in Gerontological, cardiac, med-surg, peds.

Sad sign of the times? This particular hospital, which has been hard hit by the recession and is now in danger of closing its doors due to insolvency, earlier had used forced furloughs to reduce its employee pay expenditures.

One financially strapped hospital in the east is temporarily cutting pay for some employees. Beaufort County Regional Health Systems board of trustees and commissioners held a special meeting Thursday afternoon.

The board decided in order to save money for the next ninety days, they will institute a five-percent pay cut for employees who make more than $10.00 an hour. The pay cut pay will be effective with their next paycheck. Hospital officials say that money will be returned after ninety days...

http://www.witn.com/home/headlines/Pay_Cuts_For_Some_Beaufort_County_Medical_Center_Employees_106152664.html

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