Loyola Hospital System Cutting 440 Jobs
MAYWOOD, Ill. (AP) -- Loyola University Health System says it's eliminating 443 positions in the west Chicago suburb of Maywood because an increasing number of patients aren't paying their bills.
Loyola says the cost of patients who can't pay has gone up since last year by 73 percent, to $31.3 million from $18.1 million, for the nine months ended March 31.
Loyola University Medical Center will lose 372 jobs and Loyola University Chicago Stritch School of Medicine will have 71 positions cut. Those being laid off include 35 managers and 31 nurses.
The employees losing their jobs make up 8 percent of the Loyola system's workers.
Loyola says the cuts will reduce expenses by $21 million annually. Without them, the health system says it would have a more than $50 million year-end loss.