Palmetto Health offers buyouts to some employees

Columbia, S.C.-based Palmetto Health is allowing some employees to participate in its newly established Voluntary Transition Incentive Program, according to a WIS report.

Palmetto Health announced the voluntary buyout option to employees June 2. In a letter obtained by WIS, Rob Brinkerhoff, system vice president of human resources, said the organization has taken multiple steps to improve its financial picture, such as decreasing overtime and agency expenses, decreasing discretionary spending and improving clinical quality and productivity. Now, as part of the system's recovery plan, Palmetto Health is offering the Voluntary Transition Incentive Program.

"The program gives team members the chance to leave their position at Palmetto Health in exchange for a significant financial incentive package beyond basic severance pay to support their transition. This voluntary program provides team members with an opportunity that may align with career or life change," Mr. Brinkerhoff wrote.    

He added: "We believe that introducing this program now will help provide long-term stability and strength to Palmetto Health."

Eligible employees had until midnight Sunday to apply for the program.

The letter about the voluntary buyout option was sent roughly two weeks before Palmetto Health and Greenville (S.C.) Health System declared their intent to merge. Palmetto Health said in the report the Voluntary Transition Incentive Program is not related to the planned integration.

 

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