On a sad note, Hyatt Hotels will lay off staff as it restructures roles across its global corporate functions due to drop in travel demand as a result of the COVID-19 pandemic.
The layoff which will begin from 1 June, 2020, will affect around 1,300 staff around the world.
Previously, Hyatt had reduced expenditures, extended salary reductions for Senior Leadership
Team and Board of Directors, and temporary work and/or pay reductions for all corporate colleagues.
Unfortunately, the staff layoff became necessary with increased visibility into the effect that the pandemic is having on the hospitality industry.
According to Mark Hoplamazian, President and Chief Executive Officer, Hyatt, the action will enable the Hotel chain to continue to fulfill its purpose of care over the long term as well as emerge from the pandemic with strength.
Laid off Hyatt staff will receive severance pay, outplacement services, and benefits commensurate with their years of service. Colleagues experiencing pressing financial hardships may also seek financial support from the Hyatt Care Fund.