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COVID impact: Hyatt to lay off 1,300 employees

COVID impact: Hyatt to lay off 1,300 employees

Hyatt Hotels Corp has announced that it would restructure roles and lay off nearly 1,300 employees globally amid a virtual halt in travel to contain the spread of COVID-19.

 

“Due to the historic drop in travel demand and the expected slow pace of recovery, Hyatt has made the extremely difficult decision to implement layoffs and restructure roles across its global corporate functions, beginning June 1, 2020” Hyatt said.

 

As part of a restructuring, the hotel chain had also cut pay for senior management, board members and all employees.

 

Laid off employees would be eligible to receive severance pay, outplacement services, and benefits commensurate with their years of service.

 

“COVID-19 has thrown our industry into unknown territory,” said Mark Hoplamazian, President and Chief Executive Officer, Hyatt.

 

“While parting ways with our colleagues is excruciating, we must be sensitive to commercial realities so we can continue to fulfill our purpose of care over the long term – through this pandemic and for what lies beyond. Our goal is to emerge from this crisis with strength, and ultimately position our business and our world-class teams for when the hospitality industry rebounds and when our guests and customers once again choose Hyatt.”

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