Hotel Groups From 6 Hotels Axes 159 jobs, Worker Gets Support Packages Offers
With the global situation is still looking in a greyish way, hotels have mostly been left empty most of the time in the past few months leading to great losses. On Wednesday (19 Aug) a group that owns 6 hotels in Singapore announced that 159 were retrenched, Millennium Hotels and Resorts, which owns Copthorne King’s Hotel and Orchard Hotel, called the move “difficult but inevitable” given the Covid-19 situation isn’t easing up so soon.
The group owns 6 hotels in Singapore:
- Copthorne King’s Hotel
- Grand Copthorne Waterfront Hotel
- Orchard Hotel
- M Hotel
- M Social
- Studio M Hotel
They also own excess of 145 hotels around the world — almost one-third of them had to close temporarily in Jun, they said. They have also reduced their foreign employee population by 37% from Jan to Mid Aug from 520 to 329. And the group assure that they made this decision after implemented several other cost-cutting measures.
They include:
- Tightening of company-wide expenditures
- Up to 30% salary reduction of senior leaders
- Graduated pay reductions – deeper reductions for higher-level staff – for other corporate and hotel level employees
- Laying off and furloughing what they called “excess” manpower across various regions.