UPMC REPORTS 75 PER CENT DROP IN PROFITS

Health care giant UPMC reports that profits are down 75-percent from last year.  UMPC announced 200-million-dollars in profits in its third-quarter financial report, compared to 800-million-dollars in profits during the first three quarters of 2021.  UMPC’s chief financial officer placed much of the blame on increased labor costs caused by pandemic-related employee shortages.  The CFO also said reductions in COVID relief funding contributed to the drop in profits.