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AKRON, Ohio — Summa Health will be eliminating about 300 positions following “staggering operating losses.”
The announcement was made to employees in a letter from Dr. Cliff Deveny, Interim President and CEO.
Deveny said this year, inpatient and outpatient volumes are dramatically down. According to the letter, current projections show them going from a profit of $30 million last year to a loss of more than $60 million this year.
The interim president and CEO said they have “considerable cash” in reserve to protect them in the short-term, but, several changes will be made over the next month:
- We are eliminating approximately 300 positions. Roughly half of these positions are currently open and we will work closely with those impacted individuals to provide outplacement services. While the primary goal is to eliminate administrative layers in the organization, all functions are affected.
- We will be discontinuing certain services that are better provided in other more appropriate settings. We have to stick to our core mission to the community.
- We are reevaluating our ongoing capital needs. All new projects must be evaluated against our critical strategic goals. The West Tower project will continue as scheduled because, as we’ve noted, this investment is necessary to help Summa achieve its long-term mission.
- We will consolidate units and services to make sure we are operating as efficiently as possible. We cannot afford to maintain multiple half-full units or have duplicate operations in multiple functions.
READ MORE: Fox8.com
Article Courtesy of WJW Fox 8 News Cleveland
Picture Courtesy of Peopleimages and Getty Images
