R.I. hospital system cuts pay for top executives
Published: March 18, 2009
PROVIDENCE—The Lifespan hospital system, the largest private employer in Rhode Island, is cutting the pay of top executives.
Lifespan, which includes Rhode Island Hospital in Providence, said Wednesday that its chief executive will take a 10 percent put in base pay and forgo a merit increase.
The chief executives and senior vice presidents of each of the hospitals in the system are also taking salary reductions.
Lifespan said the moves are necessary to deal with the economic recession, including delayed or canceled elective procedures and declining Medicare and Medicaid reimbursements.
Lifespan earlier this year suspended or delayed capital projects and renegotiated vendor contracts to cut costs.
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Of course the storry doesn’t tell you how these same executives got bonuses last December and that the Lifespan President is the highest paid such executive in all of New England. These highly paid executives withheld merit increases for non union personnel back in January and are asking union members to forgo their scheduled July raises as well. They can afford it , the rank and file cannot but hey, they already got theirs (bonus.) Not much different than other big business corporations really - but not surprisingly they want you (the reader) to know how magnanimous they are without telling you the “whole” truth…
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