Albany, N.Y.-based St. Peter's Health Partners is offering voluntary buyouts to employees as a way to cut costs and improve operational efficiency, according to the Times Union.
The voluntary separation program began in April and is being offered to employees 55 and older in management, administrative or other support positions, the organization told the newspaper. Salary and other benefits under the program vary depending on how long the worker has been with St. Peter's. Employees must have at least a decade of consecutive service to be eligible.
The nonprofit integrated healthcare network said the voluntary buyouts will help it achieve financial success amid today’s healthcare environment.
St. Peter's has more than 12,000 employees in more than 170 locations. It is part of Livonia, Mich.-based Trinity Health.
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