Hospitality giant Hyatt has announced layoffs and restructuring of roles, impacting around 1,300 of its employees globally. This will come into effect from June 1, 2020.
Laid off Hyatt employees will be eligible to receive severance pay, outplacement services, and benefits equivalent to their years of service. Those who are facing financial difficulties can seek support from the Hyatt Care Fund.
Since the beginning of the Covid-19 crisis, Hyatt has adopted several measures to tackle the ongoing industry challenges. These include reductions of company-wide expenditures, extended salary reductions for the senior leadership team and board of directors, and temporary work and/or pay reductions for all corporate colleagues.
Mark Hoplamazian, president and chief executive officer, Hyatt said, “Covid-19 has thrown our industry into unknown territory. While parting ways with our colleagues are excruciating, we must be sensitive to commercial realities so we can continue to fulfil 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 teams for when the hospitality industry rebounds and when our guests and customers once again choose Hyatt.”