Several employees of Steward Health Care, the owner of hospitals in Brockton, Taunton, and Fall River, reported not receiving their paychecks this morning. The company recently filed for Chapter 11 bankruptcy. Steward Health Care President Mark Rich explained that the delay in payment was due to a processing error within the Bank of America system. He assured employees that payroll and benefits for all team members were funded and would show in their accounts within the next 24 hours.
In a message shared with employees at 8 a.m. this morning, Rich acknowledged the inconvenience caused by the error. He expressed that they had followed all of Bank of America’s procedures after the Chapter 11 filing and were assured by them that such delays would not occur. The State officials are aware of the situation and confirmed that employees would receive their checks by Thursday or Friday.
Steward Health Care currently employs over 30,000 individuals at more than 30 hospitals across the U.S., with eight in Massachusetts. The company’s financial situation has raised concerns, leading to the bankruptcy filing. Amidst the financial crisis, employees are facing uncertainty about their paychecks, but the company is working to resolve the issue promptly.