VOL. 129 | NO. 197 | Thursday, October 9, 2014
Baptist Cuts Pay for Top-Level Executives
By Don Wade
A week ago, Baptist Memorial Health Care Corp. eliminated 112 jobs in a cost-saving move. Now, top-tier executives are incurring wage freezes and pay cuts of 20 percent or more.
“It was another thing we needed to do to reduce expenses system-wide,” Baptist spokesperson Ayoka Pond said.
The latest measure impacts the system’s 14 CEOs and employees at the vice president’s level and above, Pond said. Asked if there was any timetable for how long the salary reductions would remain in place, Pond said, “At this point, no.”
Baptist employs 15,000 people in the Mid-South. When Baptist eliminated the 112 positions, officials noted the “changing health care environment.” Pond said the latest move, affecting executives, was a signal to all employees that everyone is in this new challenging climate together.
“Absolutely,” Pond said. “That played a factor in it.”