MILLENNIUM & Copthorne (M&C) Hotels has reduced its global headcount by 8 per cent and furloughed another 30 per cent of staff in its owned-and-managed hotel portfolio, as the Covid-19 pandemic and governmental restriction measures introduced across most jurisdictions have hit its business. Read more at The Business Times.
MILLENNIUM & Copthorne Hotels has reduced its global headcount by 8 per cent and furloughed another 30 per cent of staff in its owned-and-managed hotel portfolio, as the Covid-19 pandemic and governmental restriction measures introduced across most jurisdictions have hit its business.Additionally, senior management and executives in M&C have, since April 1, accepted salary cuts reduction of up to 30 per cent, depending on their seniority.
About half of M&C’s global hotel portfolio have been closed to date, but the group intends to end the furlough arrangements when appropriate, and to get its employees back to their roles. The current terms of such furlough arrangements are in accordance with the relevant guidelines issued by local governments.
As for staff that were laid off, they have received payments in accordance with contractual and statutory requirements, said CDL in a statement.
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