CDL unit M&C axes 8% of global team, furloughs about 30% of employees
Singapore
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.
Excluding franchise hotels, M&C's global staff had been around 8,000 before the reductions.…
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
HSBC says growing Chinese wealth fuels client investments in US
Unilever's India quarterly profit disappoints
US: Wall St opens higher on tech boost, upbeat earnings
GM CEO Barra compensation fell 4% in 2023 to US$27.8 million
Prada’s sales up 16% in first quarter as Miu Miu shines
Boeing reports first revenue drop in 7 quarters as deliveries decline