Marriott Announces Massive Lay-Offs at the Corporate Level

Coronavirus Outbreak Impact Worse Than That of 9/11, Great Recession, Says CEO

By Anna Breuer on 22 March 2020
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Marriott International said it plans to furlough roughly two-thirds of its corporate staff in the United States and across the globe.

The move comes on the heels of a March 17th announcement in which the world’s largest hotel chain said it would lay off tens of thousands of workers at its properties worldwide, due to occupancy levels that have tanked amidst the coronavirus outbreak.

The story was first reported by the Wall Street Journal.

Marriott will provide those staff members who are laid off with 20% of their salary during the estimated 60-to-90 day period. This amount can be put towards health care coverage and other costs.  Employees who remain will see a 20% pay cut, the Journal reported.

The company’s CEO, Arne Sorensen, said in a video message to staff that occupancy rates were 75% below normal, and that the impact of the coronavirus outbreak to the company was going to be worse than the impact of the September 11, 2001 terrorist attacks and the 2008-2009 recession combined.

Marriott cemented its place as the world’s largest hotel company with its 2018 merger with Starwood Hotels & Resorts.  The combined entity currently has 1.4 million rooms, 30 brands, and over 7,300 properties worldwide.

(Photo: Accura Media Group)

Accura News

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