About Chelyen Davis:
Chelyen Davis is health reporter for The Free Lance-Star
MWHC workers will get raise this month
Employees of Mary Washington Healthcare will get a pay raise this month. Most of the company’s full-time and part-time workers will see a 2.25% increase in their Nov. 25 paychecks. The raise for those hired since the first of the year will be 1.75% of base salary.
The company told workers that the raise was based on Mary Washington’s recent financial performance and on what’s been happening in the economy. The raise, coupled with bonus payments made earlier this year, will cost the company about $4 million.
The raises are being paid as the company reports a loss through the third quarter. The company’s financial results, as of Sept. 30, were published Monday by the Municipal Securities Rulemaking Board. They show that Mary Washington earned $6.4 million in income from operations, but experienced a decline in the value of its investments. The bottom line was a $3.16 million loss.