Cincinnati Children’s Prepares for Financial Impact of COVID-19 While Protecting Jobs
Wednesday, April 29, 2020
Cincinnati Children’s announced today that in response to the financial impact of the COVID-19 pandemic, senior executives will take temporary pay cuts and merit raises will not be implemented for any employees in the upcoming Fiscal Year.
In addition, those who are temporarily without work, will remain employed with benefits and will have their pay reduced from 100% to 80% effective May 10 through July 4.
Cincinnati Children’s postponed thousands of non-emergent surgeries and outpatient visits and closed several locations in mid-March to protect patients, families and staff, conserve personal protective equipment and reserve beds should they be needed for the community’s response to COVID-19.
“Our commitment to support our employees is true to who we are and core to everything we do,” said Cincinnati Children’s President and Chief Executive Officer, Michael Fisher. “We are taking actions to ensure we have the workforce needed and financial strength to invest in and deliver on our clinical, research, education, and community missions, now and in the future.”
Cincinnati Children’s had previously taken a number of steps to assist employees during the pandemic including, 8 weeks of full pay for the entire workforce, enhancing the employee emergency fund, modifying sick leave benefits and connecting employees to new back up child/adult care options. Earlier this year, the organization announced an increase of the employee minimum wage to $15/hour.
While the state begins to lift restrictions, the organization expects that resuming its full scope of activities will require a phased approach over a period of months. Said Fisher, “Our plans will be guided by doing what is best for kids and the safety of all.”