NEW YORK (AP) – Tenet Healthcare plans to cut 1,300 jobs, more than 1 percent of its workforce, in an attempt to cut costs as it reported a quarterly loss of $367 million.
The stock jumped 10 percent, to $14.19, in early trading Friday.READ MORE: Dallas Stars Win Fourth Game In A Row, Beating Arizona Coyotes 3-2
The Dallas company expects the job cuts to lower annual expenses by $150 million. Tenet has about 101,000 full-time employees. The company also named James Bierma to the board of directors, increasing its size to 10 members.READ MORE: Dallas Police Ask Public For Help Finding Deadly Hit-And-Run Suspects
The loss from Tenet Healthcare Corp. was not as bad as Wall Street expected, but revenue fell short.MORE NEWS: Missing Canadian Aaron Tschritter Last Seen In Deep Ellum Came For Cowboys Game, Never Made It
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