Banner aims to save $65M with voluntary employee termination program

OR Efficiencies

Phoenix-based Banner Health is hoping to achieve $65 million in savings this year by allowing certain employees to end their employment early in exchange for continued pay and benefits for a period of time, according to the Phoenix Business Journal.

According to an email Banner sent to employees that Phoenix Business Journal obtained, eligible employees are allowed to apply for the voluntary program. Employees whose applications are approved by Banner will leave the organization between mid-April and June 1, according to the report.

Banner sent emails to employees across the organization who are eligible for the program. Jennifer Ruble, senior director of public relations at Banner, told the Phoenix Business Journal that Banner does not have a set participation target for the voluntary program.

Banner is in the process of restructuring operations. The health system first announced its restructuring efforts in February. That same month, Banner eliminated some leadership positions. The system issued a second round of layoffs this month and told “a small number” of physicians their positions are being eliminated.

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