IHG just announced to employees this week that 52% of all corporate employees will be furloughed for 90 days beginning in June.
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Anyone have any guesses/predictions which teams will be affected? Also, do you think majority of band 7/8 will be part of the layoffs and fewer from 4-6?
To be expected, yes. To excluded executive team members to any further action is ludicrous. This company has always looked out for the top. Even the ones that don't deserve to be there. MANY just played the right politics.
Per the official FAQ's.
Are colleagues at all levels impacted?
he range of roles impacted are from Bands 4-8.
Are members of the Board and Executive Committee taking further pay cuts?
Our executive leadership team have already taken a 30% cut in salary, which results in a significant impact on their variable compensation.
The announcement today regarding further cuts was to be expected. The entire industry isn’t rebounding and won’t for some time. I still feel that IHG is committed to doing all they can for employees that remain AND employees they have to let go. This is nothing personal. There’s a PANDEMIC going on. Any business has to make difficult decisions from time to time. Many have had to make far more cuts in the last few months. If they kept everyone, no one would likely have a job come January. This is not unique. This is not the mark of a company that doesn’t care for its people. At the end of the day, it’s a business and I would expect no less. I am currently furloughed. While I hope to go back, I’m not going to be angry at a company I’ve poured my life into for over 10 years for doing what they had to do to keep afloat.
Just announced on a call that they will be laying off 10% of the corporate workforce around the world. CEO said they were not "planning" on extending the furloughs past September. No faith in this statement as the furlough was to prevent layoffs.
Betting no executive team member is laid off.....
A place full of politics and back stabbers...
Who stayed based on popularity and politics. The change agents and those who push the envelope are all gone. They will fire everyone they furloughed m. Just watch.
I left the disgraceful industry (in the UK) due to being severely overworked, understaffed and underpayed. Hope this company goes bust.
@cubeboy the furloughs, while large in number, prevented FTE layoffs, whereas other hotel chains did not / could not avoid them. This way, their employees have access to healthcare in a time when it is vitally important and they even managed to provide a small weekly stipend to employees, which is unusual. It’s not ideal, and I’m one of the furloughed, but I feel it’s better than hundreds of us being suddenly unemployed and looking for jobs in this economy.
That's a huge number to furlough - especially after the ay cuts
Not surprising as some departments are overstaffed and inefficient