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Wake Forest Baptist announces 350 jobs eliminated

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WINSTON-SALEM, N.C. -

Wake Forest Baptist Medical Center says it will eliminate nearly 350 jobs as part of its continuing restructuring efforts.

A statement released by the hospital on Thursday said eliminating the jobs will help close what it calls an increasing gap between growing expenses and declining reimbursement from federal and state health insurance and other sources.

The hospital began notifying employees last month that their positions had been eliminated. Employees whose positions are eliminated are being given 45 days of paid notice with health benefits, followed by a severance package based on length of service and position.

Wake Forest Baptist Chief Executive Officer said that letting people go was not an easy decision. The hospital employs more than 14,000 faculty and staff at all of its locations.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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