Marriott warns of significant job losses as staff are invited to apply for redundancy
Hotel chain Marriott International is warning of significant job losses across its worldwide network as it launches a voluntary redundancy programme in the US.
In an update released today, Marriott said the Covid-19 pandemic is having a ‘more severe and sustained’ financial impact on its business than 9/11 and the 2008 financial crisis combined.
Despite taking a number of cost-cutting initiatives months ago, the hotel chain said it need to implement additional measures ‘in the light of the increasing likelihood that it will be some time before lodging demand and RevPAR levels recover’.
In the US, it will continue to furlough non-hotel staff and employ others for reduced hours until October 2, while at the same time it is rolling out a voluntary redundancy programme for both hotel and non-hotel staff.
Marriott said similar voluntary redundancy programmes are being considered in other parts of the word.
"Given the company’s expectation that prior levels of business will not return until beyond 2021, the company anticipates a significant number of above-property position eliminations later this year," said the statement.
"The company is not able at this time to predict how many associates [employees] will be affected by these separations or any resulting charges or cost savings."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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