In a direct result from the impact of Hurricane Ike in September, the University of Texas Medical Branch (UTMB) at Galveston is being forced to lay off 3,800 employees. A financial analysis showed that if they didn't lay off employees, they would deplete all their financial resources and reserves in the next three months.
Part of the problem is that many employees haven't been able to return to Galveston since the hurricane, and UTMB can't continue to pay for their salaries and benefits.
In order to try to mitigate some of the effects of the massive layoffs, UTMB plans to prioritize hiring of qualified individuals at other UT locations, and assist employees in finding jobs in other healthcare organizations. None of the employees laid off will be taken off the payroll until mid-January.
To learn more about the layoffs:
- read this Modern Healthcare piece [1] (reg. req.)
Links:
[1] http://www.modernhealthcare.com/apps/pbcs.dll/article?AID=/20081112/REG/311129959&nocache=1