Hyatt revealed in a statement on Monday the hotel chain will restructure roles in its global corporate functions, laying off 1,300 of its employees around the world.
The decision will take effect on June 1 and was made due to the COVID-19 pandemic reducing travel demand, the statement explained, noting the hotel expects a slow pace recovery from the outbreak.
"COVID-19 has thrown our industry into unknown territory," Hyatt's President and Chief Executive Officer Mark Hoplamazian said, adding: "While parting ways with our colleagues is excruciating, we must be sensitive to commercial realities so we can continue to fulfill our purpose of care over the long term – through this pandemic and for what lies beyond. Our goal is to emerge from this crisis with strength, and ultimately position our business and our world-class teams for when the hospitality industry rebounds and when our guests and customers once again choose Hyatt."
