Story Published:
Sep 2, 2010 at 9:26 PM MST
Story Updated:
Sep 3, 2010 at 1:50 PM MST
BILLINGS - A hit to the local economy Thursday as St. Vincent Healthcare announced plans to re-structure, leaving nearly 30 employees without a job.
St. V's employs more than 2,000 employees, but the hospital is just the latest in a series of Billings businesses trying to stay afloat during tough economic times.
"Our most urgent task is to restore our economy, and put the millions of Americans who have lost their jobs back to work," President Obama declared in a national speech Tuesday night.
Just days after the President announced his plans to focus on restoring the economy, St. Vincent Healthcare announced its plans to eliminate 28 positions.
"This is business, medicine is business. We have 2 hospitals and whether they admit it or not they compete against each other implicitly or explicitly, and we have all these clinics," economist Scott Rickard explained.
In a press release, St. V's sited current economic conditions and preparations for the future as the reason for cut-backs. The hospital said the restructuring brings current staffing and leadership more in line with the number of patients the hospital serves, but they are just one of several Billings businesses reducing or eliminating jobs.
In July of 2009, 90 people were let go when Suttons Sportswear closed their doors. Just 5 months ago, 40 employees were terminated from Roscoe Steel and 5 part-time employees were released from the Salvation Army Thrift Store. Over the past year, 3 furniture stores have closed their doors, leaving 20 people unemployed.
"It's going to take us some time before we will start to see significant growth in our economy. I just hope we maintain the status quo at least and we see a light growth; its not going to be quick," Rickard said.
But as the holiday season fast approaches, he said the critical time of year for retail spending is just beginning. "For a lot of especially small retailers that's where the money comes, where they decide if they're going to stay in business or not." And if this season is anything like 2009, Rickard said the forecast is not so promising. "I think people are still going to sit on their wallets, and just be conservative."
For now Rickard said all we can do is wait.
Despite the new cutbacks, St. V's said they are hiring nurses. The hospital declined to speak with us Thursday, saying they were focused on their remaining employees.
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