Genesis Health System Announces Job Cuts - News and Weather For The Quad Cities -

Genesis Health System Announces Job Cuts

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Genesis Health System is announcing cuts in staff and in executive salaries. On Friday, in a news release, the hospital group announced a "new wave of cost-cutting initiatives in response to the changing economic circumstances."  

Genesis will eliminate about 30 management positions, including its Chief Operating Officer and Senior Vice President. In addition, the Genesis CEO and remaining executive team have agreed to a voluntary pay cut. Genesis says it will also make reductions to overall employee benefits in order to save jobs.

Genesis says it will eliminate about 50 staff-level jobs, or about one percent of its workforce of more than 5,200.
All affected Genesis employees will be notified on or before May 16.

Trinity issued this statement:

“We agree that health systems across the country are facing increasing challenges from changes in reimbursement levels and declining inpatient volumes.  As part of a large, regional integrated system, UnityPoint Health -- Trinity has seen success with several system sustainability efforts that focus on gaining efficiencies to help manage expenses. This includes reducing duplication of services, gaining access to large-volume purchasing agreements, and sharing resources among all affiliates.   As we move forward we will continue to focus on opportunities to gain even more efficiencies to help offset the financial impact of a changing healthcare environment.”  
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