6/16, 5:46 PM (Source: TeleTrader)
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Hilton to cut 22% of workforce - report

Hilton Worldwide Holdings Inc. is planning to cut approximately 2,100 corporate jobs, a 22% reduction of its corporate workforce, the Wall Street Journal reported on Tuesday.

The hospitality company reportedly said the "timely and decisive" measure will "support liquidity and allow the group to reduce costs" as it struggles with the plummeting demand caused by the coronavirus pandemic.

"Never in Hilton's 101-year history has our industry faced a global crisis that brings travel to a virtual standstill," CEO Christopher Nassetta (pictured) stated according to the WSJ.

Breaking the News / MD