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Beth Israel Freezes Some Salaries, Considers Layoffs

Beth Israel Deaconess Medical Center in Boston says it expects to lose $20 million dollars this year, and will freeze salaries for some employees, reduce top executives pay, and consider layoffs.

Beth Israel chief executive Paul Levy says it's been hurt by declines in medicaid payments and a decline in patient volume, among other factors.Levy is also asking workers to give up vacation or sick days, take furloughs and forego scheduled raises to avoid major layoffs.

Other area hospitals are hurt, too, because of endowment losses and declines in philanthropic donations. The Dana Farber Cancer Institute is cutting 100 jobs. Children's Hospital is considering attrition and a freeze on hiring temporary workers.

This program aired on March 6, 2009. The audio for this program is not available.

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