HealthPartners To Furlough 10% Of Workforce, CEO Takes 40% Pay Cut
MINNEAPOLIS (WCCO) -- HealthPartners announced Thursday the organization's plan to reduce overall compensation for salaried leaders in 2020 to manage financial challenges due to COVID-19.
President and CEO of HealthPartners Andrea Walsh will take a pay cut by 40% and compensation for leaders across the organization will be reduced by up to 30%.
"The ongoing COVID-19 pandemic is creating unprecedented challenges, ones we couldn't have imagined just a few months ago," Walsh said in a statement. "We're addressing the challenges and staying focused on our top priority – the health and safety of our patients, members and colleagues."
HealthPartners also expects to furlough roughly 10% of its workforce in areas where the organization has stopped, slowed, or deferred work temporarily -- furloughed employees will continue to gain health benefits. The move will reportedly affect about 2,600 employees.
The organization is also putting a hold on hiring, and will be eliminating open positions -- except for urgent or critical needs.
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