PHILADELPHIA (KYW Newsradio) — Following a nearly $200 million loss during the last fiscal year, Thomas Jefferson University, which includes the Jefferson Health System, is laying off around 650 employees.
About 1% of Thomas Jefferson University’s 65,000 employees are being laid off.
This comes on the heels of a $195 million operating loss for the fiscal year ending June 30. About $170 million of that is reportedly through the Jefferson Health Plans insurance subsidiary. No details have been made public on the positions being cut, but the layoffs are systemwide, including the newly acquired Lehigh Valley Health Network.
That merger last year created one of the 15 largest healthcare networks in the U.S. after federal regulators signed off on the deal in July 2024.
Jefferson cut 171 jobs in March, while Lehigh Valley laid off about 100 people in January.
In a statement, Jefferson CEO Dr. Joseph Cacchione called the shedding of hundreds of employees “necessary” and “strategic.”