CT hospital cuts staff wages to save $6M

A Connecticut hospital is cutting the pay of most workers in an effort to keep a proposed acquisition on track. Waterbury Hospital President and Chief Executive Officer Darlene Stromstad, who is taking a 20 percent pay cut, tells the Republican-American the reductions were necessary in light of the acquisition by Prospect Medical Holdings. The hospital also cited state Medicaid cuts as reasons to pare salaries. Stromstad called the cuts a short-term solution to save cash, and the intent is to restore wages when the deal closes. The cuts will save about $6 million.