Presence Health is likely to lay off workers and leave hundreds of job openings unfilled after posting a bigger-than-expected operating loss in 2015.
“Although our liquidity is secure and we have a strong balance sheet, we are committed to improving our operations in 2016,” Michael Englehart, Presence Health president and chief executive, said in a statement Thursday.
“We recognize that the changes we will have to make will not be easy for any of us at Presence Health. Changes to our organizational structure will be made primarily through attrition or natural turnover and some layoffs in specific areas.”
Presence Health officials wouldn’t disclose any details about staff reductions or changes to its organization structural.
Chicago-based Presence Health, which operates 11 hospitals in Illinois, had an operating loss of about $186 million in 2015, nearly 15 times as much as the year before, according to Crain’s. Much of the loss was blamed on a poor bill collection system.
The Catholic health care system might lay off as many as 250 workers in the next three months and not fill another 450 openings this year, the Chicago Tribune reported.
Presence Health employs about 20,000 people and has annual revenue of about $2.6 billion.