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

Detroit Free Press, November 18, 2008

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.