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Care New England eliminates 30+ positions, citing financial strain

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Care New England eliminates 30+ positions, citing financial strain

PROVIDENCE, R.I. (WPRI) — Dozens of workers at Care New England have been laid off due to ongoing financial pressures amid Rhode Island’s “escalating” healthcare funding crisis.

Care New England announced the elimination of more than 30 leadership and non-clinical positions Tuesday, citing unprecedented economic challenges placing a continued strain on hospitals across the state.

According to CNE President and CEO Michael Wagner, the healthcare group has been “aggressively pursuing margin initiatives” in order to offset a $20 million budget deficit.

“Current financial conditions have made additional cost-saving measures unavoidable, but decisions like these that affect our workforce are especially difficult because they impact valued employees, colleagues, and the patients and communities we serve,” Wagner said in a press release.

He pointed to rising labor and supply costs, the increasing need to provide uncompensated care, low Medicaid reimbursement rates, as well as proposed federal changes that threaten uninsured Rhode Islanders as the primary reason for the system “restructuring.”

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CNE said it will “work closely” with affected employees, offering resources and assistance.

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Finance

Building a scalable finance function at Coca-Cola Europacific Partners

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Building a scalable finance function at Coca-Cola Europacific Partners

Implementing the “Future of Finance Academy”

KPMG in the UK worked with CCEP to co-create a comprehensive learning program for senior managers and associate directors in its finance function. We began by developing a strong understanding of the unique business context in which the company and its finance team operate.

This also helped us determine the best mode of delivery for its globally distributed finance function and identify opportunities to stretch CCEP’s ambitions further.

For example, the KPMG team proposed turning the final module of the course into a showcase presentation. Trainees applied what they had learned to real business challenges and presented their solutions to the board in a business pitch-style competition. Although this added to finance leaders’ already demanding workload, it proved to be one of the course’s most successful elements, enabling participants to put their new skills into practice.

Before work on the Academy began, KPMG developed a detailed plan setting out how the two teams would work together, ensure consistency across the learning modules, maintain quality assurance, and manage changes to scope.

KPMG professionals then collaborated closely with CCEP to co-create bespoke learning content, with CCEP’s senior finance leaders acting as subject matter experts alongside our own finance specialists. 

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Bangladesh Says $300 Billion Climate Finance Goal Falls Short, Calls for More Support

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Bangladesh Says 0 Billion Climate Finance Goal Falls Short, Calls for More Support
DHAKA, June 23 (Reuters) – Bangladesh called on ⁠Tuesday ⁠for more funds and ⁠faster support for developing countries facing escalating threats from climate change, saying the global climate financing goal of $300 billion per ‌year fell short of ‌their needs. Speaking at the World Economic Forum’s …
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EU and Hong Kong in talks on new financial services dialogue, envoy says

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EU and Hong Kong in talks on new financial services dialogue, envoy says

Senior officials from the European Union and Hong Kong are in talks to launch a financial services dialogue, with companies from the bloc keen to explore opportunities in the Northern Metropolis, its top representative in the city has said.

Ambassador Harvey Rouse, head of the EU Office in Hong Kong, made the remarks at the Greenway 2026 forum on Tuesday, where he highlighted opportunities for cooperation on sustainable innovation and the green transition.

In a keynote address, Rouse said Hong Kong had established itself as one of Asia’s leading centres for green and sustainable finance, and that, as “two of the world’s leaders” in this field, both sides had an opportunity to deepen cooperation.

“Indeed, this cooperation is already under way,” he said.

“Senior exchanges between Hong Kong and the European Commission have intensified over the past year with visits of EU officials to Hong Kong and vice versa. Both sides are looking at starting soon a financial services dialogue to enhance cooperation.”

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Rouse said European firms could also provide investment and expertise to support Hong Kong’s green transition.

“This is particularly relevant as Hong Kong develops the Northern Metropolis,” he said, referring to the city’s 30,000-hectare (74,131-acre) megaproject near the border with mainland China.

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