St. Vincent's Hospital, located in West Manhattan, has reduced salaries for nonunion workers. Top medical staff members and executives will experience a 25 percent reduction in their salaries, said a Business Week report.
Directors, managers, and physicians will get a 20 percent salary cut. Other staff members will get reductions but the hospital did not specify how much would be reduced. NY1 reported that 32 doctors were also laid off this week.
The hospital in recent months has lost millions and is now $750 million in debt. The salary reductions and layoffs were enacted to help the hospital's financial situation.
The struggling institution, which is the only Catholic hospital in New York City, has received loans of $14 million by the state in the past few weeks.
