Cleveland Clinic announces job cuts to prepare for Obamacare

Cleveland Clinic announces job cuts to prepare for Obamacare

The world-renowned Cleveland Clinic said on Wednesday it would cut jobs and slash five to six percent of its $6 billion annual budget to prepare for President Barack Obama’s health reforms.

The clinic, which has treated celebrities and world leaders such as musician Lou Reed, former Italian Prime Minister Silvio Berlusconi and former Olympic gold medal skater Scott Hamilton, did not say how many of its 44,000 employees would be laid off. But a spokeswoman said that $330 million would be cut from its annual budget.

“Some of the initiatives include offering early retirement to 3,000 eligible employees, reducing operational costs, stricter review of filling vacant positions, and lastly workforce reductions,” said Eileen Sheil, Executive Director of Corporate Communications for the Cleveland Clinic Foundation.

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