HOSPITALITY Group Banyan Tree is undertaking a series of right-sizing and cost-saving exercises that has affected 10 to 15 per cent of its global workforce, it said in an exchange filing on Friday. Read more at The Business Times.
HOSPITALITY Group Banyan Tree is undertaking a series of right-sizing and cost-saving exercises that has affected 10 to 15 per cent of its global workforce, it said in an exchange filing on Friday.The Straits Times
had earlier reported Banyan Tree's laying off about 30 per cent of its workforce in Singapore. It has around 180 people in its corporate office and headquarters in the Republic. Across its various brands globally, Banyan Tree has 11,000 staff and 47 hotels across its various brands. The group said it is committed to supporting this transition with transition packages recognising its employees' years of service and contribution, and has set up a flexible-employment platform to provide associates with operational roles where possible, both within the company and through industry contacts.
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