Portland’s largest private employer, Oregon Health & Science University, recently announced a hiring freeze. Chief financial officer, Lawrence Furnstahl says while there will be some select hiring for critical staff, the freeze is necessary to contain costs.
Since most federal research money comes from discretionary spending, sequestration is hitting OHSU and other research institutions hard, Furnstahl says. OHSU relies on the federal government for about 40 percent of its two billion dollar budget. Furnstahl told the Portland Business Journal that the uncertainty of federal funds and the rising cost of public employee retirement benefits are prompting OHSU to do some serious belt-tightening.
What questions do you have about the financial health of Oregon Health & Science University?
- Lawrence Furnstahl: Chief financial officer for OHSU