Banner Health eliminates positions amid $65 million restructuring
Eligible employees whose applications are approved will leave Banner between mid-April and June 1.
Banner Health in Arizona is betting it can save $65 million this year by enacting a voluntary employee termination program, allowing employees to end their tenure early in exchange for a temporary continuation of pay and benefits.
According to the Phoenix Business Journal, eligible employees whose applications for the termination program are approved will leave Banner between mid-April and June 1.
Banner sent emails to employees who qualify for the program, although the Business Journal reported that the company doesn't have a set participation target for the program.
In February, Banner Health announced that it would be restructuring, and eliminated a number of leadership positions, followed by a further round of layoffs earlier this month.
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