MARSHFIELD, WI (WSAU) — High-level leaders within the Marshfield Clinic Health System will be taking pay cuts in the new year to help stabilize the healthcare provider’s finances.
According to a company-wide email sent on Wednesday all Chiefs, Presidents, and Vice Presidents will take a 15 % cut. Those in Director positions will have their pay reduced by 10%.
The CEO position will also take a 15% pay cut.
WQOW TV in Eau Clair obtained a copy of that company-wide email and was the first to report the news on Wednesday evening. The company will also suspend its 401K match plan and other employee retirement account contributions.
A representative of Marshfield Clinic confirmed the news, saying the changes are temporary and meant to help the system “weather financial challenges.” The temporary changes are designed to help the company’s finances without impacting patient care, access, and safety.
Marshfield Clinic recently closed the Stettin Center facility in Wausau, moving those providers and services to its nearby Wausau Center campus on Plaza Drive.
The news comes as Marshfield Clinic and Duluth, Minnesota-based Essentia Health are finalizing merger plans.
