Kaiser faces job cuts, pay freeze after $800M loss

Kaiser Permanente will begin severe belt-tightening steps in the wake of almost $800 million in investment-related losses last year at the health care system, the largest private employer in the Sacramento region.

Kaiser will freeze the pay of top executives, hold staffing at 2008 levels, slash travel budgets by at least 25 percent, reduce the use of consultants and temporary employees, cut an unspecified number of jobs and hold capital spending to 2008 levels, giving priority to “projects needed to improve care, maintain our facilities, and position us for future growth.” Kaiser has more than 9,600 full-time equivalent employees at three hospital campuses and several medical offices in the Sacramento region...more

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