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Hilton plans 1,000 job losses

13 February 2009 by
Hilton plans 1,000 job losses

Staff at Hilton's central office in Watford face an anxious wait over their future after it emerged that the hotel giant is planning more than 1,000 job losses as part of a $250m (£175m) cost-cutting programme.

Hilton Hotels Corporation (HHC) has already announced plans to close its corporate headquarters in Beverly Hills, California, and move to Virginia and 500 staff at its Watford international centre also expect big job cuts.

Sources expect at least half the employees in Watford to lose their jobs as the old Hilton International headquarters becomes a European centre, according to The Times.

The cost-cutting is being pushed through by Christopher Nassetta, appointed president and chief executive after private equity firm Blackstone's $26b buyout of HHC in October 2007.

HHC has 3,200 hotels in 77 countries, employing about 135,000 staff. It is believed to be cutting jobs at the 15% of hotels it owns or manages and its franchisees are likely to follow suit.

Hotel industry has to brace itself for a rough year >>

Hilton opens first London Doubletree hotel >>

Hotel expansions hit financial wall >>

Blackstone completes Hilton Hotels Corporation takeover >>

Is private equity working in the public interest? >>

By Daniel Thomas

E-mail your comments to Daniel Thomas here.

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