Hotel Companies Lay Off, Furlough Thousands of Workers

Marriott International and other hotel companies are furloughing tens of thousands of workers amid plummeting occupancy rates stemming from travel bans and restrictions being imposed by governments worldwide to slow the spread of coronavirus (COVID-19).

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According to The Wall Street Journal, about two-thirds of Marriott's 4,000 corporate employees headquartered in Bethesda, Maryland and roughly two-thirds of its corporate employees overseas will be furloughed for 90 days starting in April.

The hotel giant hopes to bring staff back when travel demand resumes.

Competitors such as Hyatt Hotels Corporation and Hilton Worldwide Holdings Inc. have announced similar job cuts and furloughs as they've also been forced to shutter properties around the world amid the COVID-19 outbreak. Furloughed Hilton employees will be given access to other jobs, the company announced Monday and will continue receiving health benefits while also being able to file for unemployment.

The Wall Street Journal also reported that Dallas, Texas-based Ashford Inc. will lay off or furlough a whopping 95 percent of its staff of 7,000 employees.

Last week, with massive cuts looming, executives of some of the world's top hotel companies met with President Trump and other White House officials to seek urgent financial assistance for the industry. U.S. hotel companies are hoping to secure $150 billion in direct aid and an additional $100 billion in relief for suppliers such as recreation providers and retailers.

A message to Marriott International associates from President and CEO Arne Sorenson. pic.twitter.com/OwsF14TZgb

— Marriott International (@MarriottIntl) March 19, 2020