Marriott has warned of further job losses due to the negative financial impact and slow demand in travel demands, as a result of the COVID-19 pandemic.
The hospitality giant told its employees in the United States that furloughs and reduced workweek schedules which began in April will be extended through to October.
The hospitality company, however, says that the harshly Financial impact of this pandemic is more severe than 9/11 and the 2008 financial crisis combined.
The company said in an official statement:
“Given the company’s expectation that prior levels of business will not return until beyond 2021, the company anticipates a significant number of above-property position eliminations later this year,” the company said.
Marriott further explained that it’s unable to foresee at this time how many associates will be affected by these separations or any resulting charges or cost savings.
However, the company says it’s rolling out a voluntary redundancy program for on-property and above-property staff in the United States who may choose to leave.
Similar voluntary programs are being considered in other parts of the world.