Thu. Oct 22nd, 2020

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

Premier Inn-owner Whitbread plans nearly 6,000 job cuts

1 min read
Premier Inn

Premier Inn-owner Whitbread said on Tuesday it was planning up to 6,000 redundancies in its hotel and restaurant business, saying they were necessary to protect its business as the COVID-19 pandemic hammers the travel and hospitality sectors.

The company said it had begun formal consultations on the job cuts, which represent 18% of its total workforce, and expected a significant proportion of the layoffs to be voluntary.

Total sales for Whitbread’s UK and international businesses plunged 76.8% for the six months ended Aug. 27, as the company dealt with hotel and restaurant closures due to coronavirus curbs.

The company said UK accommodation sales performance has been ahead of the market since reopening and it has seen strong demand in tourist locations, while demand remained subdued in metropolitan areas and London.

The owner of restaurant and pub chains such as Beefeater, Brewers Fayre and Bar + Block, which said last month it will cut around 15%-20% of its head office roles, added it was close to completing the process.

Leave a Reply

Forex trading and any instruments related to Foreign Exchange Market are Speculative and carry substantial risk of loss of either partial equity or the entire deposit amount. Leverage adds up to the risk, before considering to invest in this venture, you should first consider your financial position and may seek the help of an independent financial advisor. FXtriangle dis-recommends the usage of loan instruments to trade in this market as it can hamper financial position. Please do not invest the money that you cannot afford to lose. FXtriangle provides all its services throughout the Globe Excluding (Nigeria, British Virgin Island & the Islamic Republic of Iran) and also provides limited service in some jurisdictions where investment in Overseas markets / Fx Exchanges are prohibited by Law If you are not sure to contact us before using any of our services. FXtriangle acts as an Independent Corporate Financial Advisor and connects you to various overseas exchanges and cannot be held liable for any financial damage occurring through their side. All of our partnered institutions are regulated in various jurisdictions.FXtriangle conducts an independent background check before partnering with any institutions to fulfill your investment objectives smoothly. The usage of our Business name, Logo or any trademark in any financial forum, website, review website, complaint arena, Billboards without our written permission will attract lawsuits.