Hilton To Cut 2,100 Corporate Jobs Globally
Hotel chain Hilton Worldwide Holdings Inc has said that it will cut approximately 22% of its corporate workforce, or 2,100 jobs, due to the COVID-19 crisis.
The hotel industry is one of the industries that have been hit the worst by the crisis, with travelers having been forced to cancel bookings and stay at home due to government enforced lockdowns.
Rivals Marriott International Inc and Hyatt Hotels Corp have also laid off or furloughed thousands of employees due to plunges in bookings.
Most hotel operators have signaled that a fall in bookings will hit a bottom in the second quarter, with a turnaround already taking place in key markets such as China, as the world's second-largest economy gradually reopens for business.
Extending Previously Announced Cuts
Hilton said that it is also extending previously announced furloughs, reduced hours and corporate pay cuts for up to an additional three months.
"Never in Hilton's 101-year history has our industry faced a global crisis that brings travel to a virtual standstill," CEO Christopher Nassetta said.
Hilton's corporate staff numbered 9,600 workers globally, while total employees were 173,000 at the end of 2019.