Hyatt to lay off 1,300 employees as pandemic cripples travel


ReutersMay 11, 2020, 11:21 PM

Hyatt to lay off 1,300 employees as pandemic cripples travel

A general view of astatue with protective masks on outside of the Hyatt Regency the host hotel for UFC 249 at VyStar Veterans Memorial Arena

(Reuters) – Hyatt Hotels Corp <H.N> said late Monday it would lay off 1,300 people globally as it tries to cope with the coronavirus crisis, which has virtually halted global travel by keeping people indoors.

Hyatt said it had also cut pay for senior management, board members and all employees as part of a restructuring, adding that the staff who were being laid off would be eligible for receive severance pay.

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