Overview
- A spokesperson confirmed the system began cutting jobs last week but declined to disclose how many positions have been or will be eliminated.
- Executives say administrative savings alone are insufficient and that the new round will include clinical consolidations and program reshaping to reduce recurring costs.
- Mass Eye and Ear will close its 10th-floor general pediatric inpatient unit by Jan. 1, 2027, and those patients will be treated at other Mass General Brigham hospitals.
- MGB reported a 0.3% operating margin in fiscal 2025 and has set a target of about 1.5% by fiscal 2028, saying it is more than $300 million behind its fiscal 2026 budget.
- The system employs over 80,000 people, recorded large investment gains in 2025 that executives say are unreliable for ongoing costs, and carries roughly $5.6 billion in long-term debt.