SVMH BUYOUTS 07-05-10 10:50 a.v.
In hopes of saving money by offsetting a 5-million drop in revenue last year, Salinas Valley Memorial Hospital is offering a buyout to 138 non-union hospital employees. With a July 16th deadline approaching for responses, hospital officials hope the voluntary offers generate 4-million dollars in savings. Recipients affected are those primarily in management and support services. The hospital is working with Wellspring consulting firm on an organizational redesign to cut costs along with other cost savings measures such as renegotiation of vendor contracts.