GLENS FALLS, N.Y. - The Glens Falls Hospital announced the elimination of 29 positions Tuesday in the wake of "declining reimbursement levels and other economic challenges."
The hospital says they will also need to reduce the work hours of five employees as part of their on-going cost reduction plan, which is estimated to save the hospital $10 million annually. Glens Falls Hospital now employs 3,000 workers.
Employees who are impacted will be offered opportunities to fill existing open positions.
"We deeply regret the pain and anguish this difficult decision will cause for so many of our co-workers," Hospital President and CEO David Kruczlnicki said. Kruczlnicki says the reduction was carefully planned so as not to impact the quality of patient care.
Kruczlnicki said many community hospitals are facing the same challenges.
"Our employees are the heart of our extensive health care system, but there are tremendous economic challenges confronting health care providers. In order to meet the health care needs of our regional community, our organization must be healthy financially."
The hospital also credits the lay-offs to uncertainty about personal finances which have caused patients to reconsider elective procedures due to high insurance co-pays and deductibles.
Glens Falls Hospital says those employees whose positions are eliminated will be receiving a comprehensive severance package, including extended health care and job placement assistance.