WOODLAND HILLS, Calif. -- The Motion Picture & Television Fund announced Wednesday that it will close its hospital and nursing home by the end of the year.
About 290 jobs will be lost by the time the phase-out is complete.
Dr. David Tillman, MPTF's president and chief executive, said the impending closure "reflects some sobering economic realities that are affecting healthcare institutions nationwide."
As it phases out its hospital and nursing home operations, MPTF will expand its community-based efforts by starting teams that will deliver services to retirees at their homes or care facilities.
"Our emphasis on community-based care reflects the growing desire of today's active seniors to live as independently as possible for as long as possible," Tillman said.
About 100 retirees live in the MPTF home in Woodland Hills. Together, the nursing home and the hospital have been losing about $10 million per year, according to the MPTF.
"The world is changing and MPTF has been changing with it," said Frank G. Mancuso, head of the fund's corporate board. "For nearly 90 years, we have embodied Hollywood's unique commitment to taking care of its own. Focusing on a community-based approach will allow us to continue honoring this commitment for another 90 years."
The MPTF was incorporated in 1921 as the Motion Picture Relief Fund. It was founded by Hollywood luminaries Mary Pickford, Charlie Chaplin, Douglas Fairbanks and D.W. Griffith, to help people in the entertainment industry who fell upon hard times.
The Motion Picture & Television Hospital was dedicated in 1948.