The University of Chicago Medical Center has plans for a major restructuring--to include hundreds of layoffs--that should cut expenses by $100 million. This would represent a 7 percent cut off of its annual budget. Executives said that they planned to directly eliminate 450 jobs, in addition to hundreds more that will be lost through attrition.
This follows the hospital's announcement last month that it was eliminating 15 senior executive slots, including one vice presidential position formerly held by First Lady Michelle Obama.
As part of its restructuring, the medical center is likely to be more aggressive in referring patients with less-serious conditions and those with Medicaid coverage to other hospitals. It's also possible that the hospital's staff cuts and reductions in hours may reduce its ability to place its specialists in public health clinics elsewhere in the city.
To learn more about the restructuring:
- read this Chicago Tribune piece
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