Cleveland Clinic Announces Cuts

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

CLEVELAND -- The Cleveland Clinic informed employees Wednesday of a reduction in workforce that will be made in attempt to cut $330 million from the budget.

According to a spokesperson, the company did not immediately know what the impact would be.

The Cleveland Clinic will evaluate ways to reduce costs, including offering voluntary early retirement to about 3,000 employees.

Those who are eligible are expected to receive information by late October.

The Cleveland Clinic released a statement that said:

“To prepare for healthcare reform, Cleveland Clinic is transforming the way care is delivered to patients. Over the past several years, we have had an ongoing focus on driving efficiencies, lowering costs, reducing duplication in services and enhancing quality to make healthcare affordable to patients.

Although we have made progress, we need to further reduce costs to the organization by $330 million in 2014.  We are carefully evaluating all aspects of our system to accomplish this. 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.

Through these changing times, we are focused on providing the highest quality of care to our patients in the most efficient and cost-effective manner.”

Rely on Fox 8 News and for more information as it is released.