Dallas-based Tenet Healthcare, one of the nation’s largest
investor-owned hospital operators, is furloughing staff, delaying benefits such
as 401(k) matches, bolstering its cash and deferring $250 million in Social
Security payroll tax payments to weather the coronavirus pandemic.
Tenet CEO Ron Rittenmeyer said Thursday that the moves were "done
consciously, thoughfully ... to ensure we were focused on maximizing our cash
position."
"We’re comfortable that we have this in control as much as possible,"
he said in an conference call with analysts.
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