Crozer Health Lays Off 215 People in Cost-Cutting Measure
Crozer Health layoffs will affect 215 people, or 4 percent of its total workforce, in an ongoing effort to stop its financial losses, writes Harold Brubaker for The Philadelphia Inquirer.
The Crozer Health layoffs close Taylor Hospital’s sleep center, cardiac rehabilitation and wound care in Springfield, and outpatient drug and alcohol treatment at Crozer-Chester Medical Center.
“We made the difficult decision to restructure our operations in order to ensure that resources are properly allocated to meet our patients’ and our communities’ most pressing health care needs, while at the same time allowing us to stem the financial losses,” said Crozer CEO Anthony Esposito.
Crozer, owned by Prospect Medical Holdings Inc, has been hit with high labor, drug, and supply costs at a time when insurance companies aren’t making higher payments.
Crozer also faces financial stress from a real estate deal that requires it to lease its buildings from a real estate investment fund.
Crozer has cut administrative jobs. It is converting Delaware County Memorial Hospital in Drexel Hill to an inpatient mental health and drug treatment center, and it offers outpatient services only at Springfield Hospital.
These cost-cutting efforts have reduced Crozer’s monthly losses to $7 million from $12 million.
Read more about Crozer Health layoffs in The Philadelphia Inquirer.
The layoffs were reported by 6abc.
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