Mayo Clinic is instituting across the board pay cuts and furloughs to shoulder a projected $3 billion loss this year.
The pay and work reductions, which will apply to all employees at Mayo’s campuses in Minnesota, Florida and Arizona, will start in May, and last until the end of the year. Together, Mayo employs more than 63,000 people.
The changes come in response to halting elective surgeries and procedures, which Mayo officials say are predicted to result in a $3 billion loss by the end of the year.
www.mprnews.org