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Article: Charter Hospital Closings May Signal Bigger Problems Ahead, Reports Mental Health Weekly.
- Article from:
- PR Newswire
- Article date:
- February 14, 2000
CopyrightCOPYRIGHT 2000 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PROVIDENCE, R.I., Feb. 14 /PRNewswire/ -- This month's fast-paced closing and consolidation of Charter Behavioral Health Systems (CBHS) facilities reflects an aggressive effort by the nation's largest psychiatric hospital chain to remain financially viable, reports this week's issue of Mental Health Weekly. The stark numbers include 33 hospital closings and consolidations, with a loss of 4,800 jobs.
Given the precarious financial position the company finds itself in, rumors of impending bankruptcy are running rampant and at least five lawsuits have been filed on behalf of laid-off workers who are seeking lost wages. In addition, the company is awaiting the ...