05/29/2012 01:14 EDT | Updated 07/29/2012 05:12 EDT

Newfoundland's largest health board to cut 550 positions to save $43 million

ST. JOHN'S, N.L. - Newfoundland and Labrador's largest health board plans to eliminate 550 full-time equivalent positions in an effort to save money.

Eastern Health says the job cuts will save about $43 million over the next two years.

CEO Vickie Kaminski says a review found that the health board was wasting human and financial resources, and so costs needed to be reduced.

Of the 550 positions that will be cut, 385 are permanent, though Eastern Health says those will be eliminated through attrition.

Eastern Health employs about 13,000 people, serving a population of more than 290,000.