Cook Medical Group announced Monday it will cut the hours of salaried workers for the next three months due to changes in demand for medical products, according to an email from communications manager Marsha Lovejoy.
Salaried employees at Cook Medical who make more than $50,000 per year will be switching to a four-day work week for the next three months, according to the email. This cut in hours comes out to a 20% pay cut. Executives will be taking a larger pay reduction, ranging from 25% to 100%.
“We have never done something like this before, but this is how we have to manage through this crisis,” Lovejoy said in the email. “This will allow us to weather this storm, while still providing patients the products they need right now.”
There’s an increase in demand for products used in intensive care units, such as catheters and airway devices, but a decrease in elective procedures such as biopsies and kidney stone removal, according to the email.
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