Toledo, Ohio-based ProMedica has offered early retirement packages to more than 1,200 employees, according to a report by The Blade.
Employees 55 years old or older who have at least 25 years of service were offered the package, according to the report. The retirement deal includes severance pay based on years of service, healthcare benefits during the severance pay period and added contributions to retirement plans.
ProMedica officials expect about 400 to 500 employees to take the deal, which is part of a plan to reduce costs.
"We are financially strong but we see reimbursements declining that are going to continue to decline so we are being proactive," Arturo Polizzi, chief human resources officer at ProMedica, told The Blade.
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