The Albany (N.Y.) Medical Center announced that it has stopped work on a $360 million expansion project and has frozen hiring for all but the most critical positions, according to a report in the Times Union.
In addition, the hospital has eliminated 125 vacant positions and 3 percent merit pay raises and has reduced employees' accumulated time off by 10 percent, according to the report.
The construction stoppage and employment cuts are due to an estimated $2.5 million annual loss for Albany, which the hospital attributes to state Medicare funding cuts.
The expansion project was to add a six-story tower, new operating and waiting rooms and 83 hospital beds, according to the report. Hospital officials said that they were "fortunate" to avoid layoffs.
Read the Times Union's report on the Albany Medical Center construction stoppage.