Pa.'s largest private employer offers buyouts

Written by The Associated Press | May 27, 2015 9:26 AM

(Pittsburgh) -- The state's largest private employer is offering buyouts to its older workers in a move to cut costs. 

The nononprofit University of Pittsburgh Medical Center in western Pennsylvaniais citing slowing demand for its medical services.  

UPMC says it was offering voluntary severance to employees who are 60 or older and have at least 10 years of service.

The offer includes medical and dental benefits and a one-time cash payment. 

It operates 22 hospitals in western Pennsylvania and has about 62,000 workers.

The nonprofit is facing stepped-up competition from Highmark, which recently acquired the seven-hospital Allegheny Health Network and owns the state's biggest health insurer.

UPMC also owns the second-largest health insurance company in the region.  

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