This week, a number of employees at Steward Health Care, which operates hospitals in Brockton, Taunton, and Fall River, reported not receiving their paychecks this morning. The company recently filed for Chapter 11 bankruptcy. According to Steward Health Care President Mark Rich, the delay in payment was caused by an error in the Bank of America system. He assured employees that payroll and benefits were fully funded and would be reflected in their accounts within the next 24 hours.
In an early morning message to employees, Rich apologized for the inconvenience caused by the error and explained that they had followed all of Bank of America’s procedures after filing for bankruptcy. He also confirmed that state officials were aware of the situation and expected employees to receive their checks by Thursday or Friday.
Steward Health Care currently employs over 30,000 individuals at more than 30 hospitals across the US, including eight locations in Massachusetts. The company’s financial situation has been a source of concern due to its recent bankruptcy filing. Despite this uncertainty, the company is working diligently to resolve the issue as quickly as possible.
The financial crisis has left many employees feeling uncertain about their future with Steward Health Care. However, Rich reassured them that payroll and benefits were fully funded and urged them to remain patient while they awaited payment.
The incident has raised questions about the reliability of Bank of America’s systems and how they handle sensitive information such as employee payroll during times of financial instability. It remains to be seen how Steward Health Care will navigate through its financial challenges while ensuring that its employees are paid on time.
Amidst this uncertainty, it is crucial for companies like Steward Health Care to prioritize transparency and open communication with their employees when faced with unexpected delays or issues related to payroll processing. By doing so, they can build trust and maintain a positive work environment even during challenging times.