‘Wage adjustments’ may be trend to watch — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

‘Wage adjustments’ may be trend to watch

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These difficult economic times could get worse. As you think about your labor budget, consider that many Pennsylvania employers are already taking steps to reduce staff. Some are cutting the wages of those who are lucky enough to keep their jobs. This last tactic even has a new name—“wage adjustment.”

One Pennsylvania company aggressively cutting its labor budget is Delaware County’s Crozer-Keystone Health Systems. The company, which has 7,000 employees working at five hospitals, has cut 400 jobs and is in discussions on lowering wages through a wage-adjustment plan.

Kathy Scullin told The Philadelphia Inquirer that the company is working on a “comprehensive wage-adjustment package for all employees.” She cited declining revenues caused by fewer people being admitted to hospitals or visiting clinics and more patients who do not pay their medical bills.

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