Providence Health to cut compensation for 600 to make up for COVID-19 costs

In The Oregonian:

Providence Health & Services announced Tuesday it will launch a variety of cost-cutting measures including furloughs and temporary pay reductions for at least 600 employees….

Unions and others have criticized hospitals for cutting compensation in the middle of an unprecedented public health crisis. But hospital officials said they have little choice having experienced 40% to 70% revenue declines in some departments.

We are planning for a new normal to ensure financial stability in the months ahead,” said Lisa Vance, chief executive of Providence Oregon. “We are doing all we can to ensure the highest safety precautions are in place for all of our services as we reach out to patients to ensure they do not delay needed care.”