Baptist Medical Center in Jackson, Mississippi has fallen victim to rising costs and the financial crisis. The hospital will give the axe to 186 employees as they cut back costs by more than $16 million.

CEO of Baptist, Kurt Metzner, said, “Expenses are going up faster than our income. We have to press the reset button and balance our income and expenses.”

Baptist employs more than 3,700 people in Mississippi. The layoffs amount to nearly 5% of the hospital’s staff. Laid-off employees were given severance pay. Aditionally, Metzner encouraged those employees to apply for the 136 job openings currently available at the hospital.