Albany Med cuts dozens of jobs citing financial headwinds

Albany Med cuts dozens of jobs citing financial headwinds

ALBANY — Albany Medical Center announced Wednesday that it is cutting 37 positions at its main Albany campus, citing a two-year financial shortfall made worse by the COVID-19 pandemic.

The medical center has suffered an operating loss of $66 million year-to-date, which hospital officials say is unprecedented in its more than 180-year history.

Pandemic-induced staff shortages and increased wait times have forced Albany Med to invest in staff retention, such as offering attendance bonuses, salary increases and referral bonuses.

CEO Dennis P. McKenna told staff that the hospital system will undergo a “painful” restructuring that will include layoffs, primarily on the management and non-clinical side.

“These decisions are exceptionally difficult. They are necessary to protect our future as an independent health care system providing the highest quality care in our region,” McKenna wrote in a letter first obtained by WNYT Channel 13.

He noted that healthcare organizations across the United States are strained by staffing levels, reliance on expensive agency contracts, and rising expenses across the board.

A financial mitigation plan has been developed to address critical issues and increase collaboration within the system, a hospital spokesperson said.

Some employees will be laid off while others will move on to other roles within the organization. Several other positions will not be filled after the retirements.

The layoffs did not affect any frontline clinical workers, a hospital spokesperson said.

More than 16,000 workers are employed at Albany Med. The sprawling healthcare system includes Albany Medical Center, Albany Medical College, Columbia Memorial Health, Glens Falls Hospital, Saratoga Hospital, and Albany Visiting Nurses.

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