Administrators at Blue Hill (Maine) Memorial Hospital are crediting a buyout program for saving the hospital $400,000 annually and avoiding the need for layoffs, according to a Bangor Daily News report.
The voluntary incentive plan offered each hospital employee an opportunity to leave on good terms in exchange for a payment linked to experience, according to the report. Out of the 400 employees at the hospital, two managers and four employees applied for and received the buyouts, Blue Hill CEO Greg Roraff said in the report.
"If ever there is a win/win situation, this is one. The employees all either had other plans or decided to retire and take this incentive," he said, according to the report.
The employees will not be replaced — resulting in an annual savings of $400,000 — and Mr. Roroff says the hospital will not need to turn to layoffs in the immediate future.
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The voluntary incentive plan offered each hospital employee an opportunity to leave on good terms in exchange for a payment linked to experience, according to the report. Out of the 400 employees at the hospital, two managers and four employees applied for and received the buyouts, Blue Hill CEO Greg Roraff said in the report.
"If ever there is a win/win situation, this is one. The employees all either had other plans or decided to retire and take this incentive," he said, according to the report.
The employees will not be replaced — resulting in an annual savings of $400,000 — and Mr. Roroff says the hospital will not need to turn to layoffs in the immediate future.
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