Texas Health Resources begins layoffs, expects to cut more than 700 employees
Texas Health Resources announced Thursday that the system began laying off 3 percent of its workforce.
According to a news release, Texas Health employs more than 24,000 people, and the layoffs won’t be centered at one hospital or location. That means around 720 people will be let go.
“While we regret having to take these actions, we want to be clear that onlay a small number of employees were affected,” Chief People Officer Michelle Kirby said in a release. “There are job opportunities in other areas of Texas Health and we have a long track record of placing impacted employees in other roles in our system. We are working hard to do so for these individuals.”
According to the system’s quarterly financial reports submitted to Becker’s Hospital CFO Report, Texas Health ended the first three quarters of 2018 with net income of $333.4 million, a 45 percent drop from the $605.3 million in net income from the first three quarters in 2017.