Detroit-based Beaumont banks on $60-million fiscal plan

Beaumont Hospitals, long one of metro Detroit's most successful health systems, has announced a $60-million financial turnaround plan that includes layoffs, executive and physician pay cuts, and placing holds on many suburban construction projects. Beaumont is making the moves to offset $22 million in projected losses by year's end, on $2 billion in revenues. About $46 million of the turnaround plan involves savings from job freezes, pay cuts, postponement of capital projects, and other efficiencies.