That busy health care industry to-do list ahead of ObamaCare includes an increasing number of hospital job cuts. Since the start of May, hospital groups have announced plans to lay off 6,000 workers. Add in several thousand additional positions seeing fewer hours or cuts through attrition and buyouts, and the work reductions impact more than 9,000 jobs.
An IBD review found layoff and workforce reduction announcements covering 75 hospital groups in 33 states and the District of Columbia.
While hospital layoffs are much more common in recent years, what is notable is how widespread they've become, impacting even firms that have never before resorted to job cuts. Even more striking is the sudden change in patient behavior and rapid deterioration in hospital finances.
Source: Investors Business Daily. Read full article. (link)