Hyatt Hotels Corp. will implement layoffs and restructure roles across its global corporate functions beginning June 1. The company said the moves, which will impact around 1,300 employees around the world, are due to the historic drop in travel demand because of the COVID-19 pandemic and the expected slow pace of recovery.
Since the start of the COVID-19 pandemic, Hyatt has taken numerous actions in an effort to meet the challenges the industry is facing including reductions of companywide expenditures, extended salary reductions for the senior leadership team and board of directors, and temporary work and/or pay reductions for all corporate employees. But additional measures are necessary to meet the challenge, according to Mark Hoplamazian, Hyatt’s president/CEO.
