Marriott Warns of More Cutbacks; Extends
Furloughs and Reduced Work Weeks
Marriott issued a statement on Wednesday warning
of the likelihood of more layoffs to the company’s global
workforce as the ongoing COVID19 pandemic continues to devastate
Above-property employees in the United States have
been informed that
furloughs and reduced work week schedules which began in April
will be extended through 2 October 2020.
Marriott is also rolling
out a voluntary transition program for on-property and
above-property employees in the United States who can choose to
leave the company.
The company also anticipates a significant
number of above-property position eliminations later this year,
though it has not predicted how many people will be affected.
programs are being considered in other parts of the world.
In Wednesday's statement, Marriott highlighted the
fact that the "COVID19 pandemic is having a more severe and
sustained financial impact on Marriott’s business than 9/11 and
the 2008 financial crisis, combined."
The company also said that it does not expect
prior levels of business to return until "beyond 2021".