Stanford Health Care is the producer of the strangest business news I’ve seen in a while. Take this:
“Stanford (Calif.) Health Care in January declared plans to cut 168 positions, or more than 1 percent of its total workforce. Stanford Health Care has had a decade of strong financial performance and a period of significant growth over the past five years,” SHC President and CEO David Entwistle said in the statement. “We have been investing to meet the increasing healthcare needs of our community, to advance human health and to support our vital mission as a leading academic medical center. To continue this progress requires that we operate in a fiscally responsible manner.” He added: “We highly value all members of our dedicated staff and regret that reducing expenses is necessary.”
“Moving forward, the health system anticipates construction on the new Stanford (Calif.) Hospital to reach completion in 2018, and a new Stanford Health Care outpatient center to open in Emeryville, Calif., March 16.”
It costs $2 billion.