Job cuts in July ran deep in the healthcare industry due do the sequester and healthcare reform, according to the latest monthly job cut report released Thursday by Challenger, Gray & Christmas, Inc.
The healthcare sector led July workforce reductions with 6,843 planned job cuts–the highest number of cuts in the industry since November 2009 when it slashed 9,558 jobs. According to the report, healthcare organizations have now cut 29,794 jobs this year, 59 percent more than the 18,770 planned job cuts announced by this point in 2012.
“Cuts in Medicare reimbursements brought about by sequestration and healthcare reform are hurting hospitals’ bottom line,” said John A. Challenger, CEO of the global outplacement consultancy firm. “Some states are also cutting Medicaid funding, which adds to the financial challenges.”
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