Daily Management Review

Hilton to reduce 22% of staff worldwide


The American hotel chain Hilton Worldwide Holdings announced a reduction in the number of employees worldwide by about 22%.

Albert Bridge
Albert Bridge
Thus, the dismissal will affect about 2.1 thousand people.

Previously, the company reduced corporate payments and the number of working hours, and a number of employees were sent on unpaid leave. These measures will be extended for another three months, according to the press release.

“Never in the 101-year history of Hilton has our industry experienced a global crisis that has led to an almost complete cessation of travel,” said Christopher Nassetta, CEO and President.

Analysts do not expect restoration of hotel business revenue as a whole to last year's levels earlier than 2022, and possibly later, The Wall Street Journal notes.

In May Hyatt Hotels Corp. announced the dismissal of about 1.3 thousand employees worldwide. Last month, Marriott International Inc. announced extension of the unpaid leave until October 2, and also offered compensation for those who want to quit on their own.

Hilton Worldwide is one of the largest hotel companies in the world. Its portfolio consists of 18 world-class brands, including more than 6.1 thousand of its own, franchised and managed hotels located in 119 countries and regions of the world.

Hilton's market value has fallen by about 30% since the beginning of this year.

source: bloomberg.com