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Accor and Hilton to shed more jobs

06 July 2009 by
Accor and Hilton to shed more jobs

Hotel giants Accor and Hilton are the latest companies to confirm a round of job cuts amid the global financial crisis.

French company Accor is set to lose some 230 employees, while Hilton confirmed it will cut 100 jobs.

Accor, which operates the Ibis and Novotel brands, said will cut 10% of its workforce at its head offices and Hotellerie France head offices as it looks to make a 15% reduction in support costs.

The company said the hotel business continues to be impacted by the effects of an "unprecedented worldwide crisis".

"This has led to a decline in first-quarter 2009 business and shows no prospects for improvement in the short term," Accor said.

"Based entirely on voluntary departures, the two-part plan would concern around 230 positions in France."

Accor has also cut costs in other areas, including curbing renovation spending for this year by €170m (£147m), as well as hotel development spending next year by €120m.

Meanwhile, Hilton confirmed that it would lose around 100 employees this month after a three-month consultation period.

A spokeswoman for the hotel group said: "The restructuring is part of Blackstone's realignment. It's not about stripping out costs for us but moving towards a new functional structure driven from the USA."

The restructure is being pushed through by Christopher Nassetta, appointed president and chief executive after private equity firm Blackstone's $26b (£16b) buyout of Hilton in October 2007.

Accor chairman streamlines management team at hotel giant >>

Accor reports drop in turnover >>

Hilton plans 1,000 job losses >>

Blackstone to buy Hilton for nearly £10b >>

By Gemma Sharkey

E-mail your comments to Gemma Sharkey here.

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