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Layoffs at Steigenberger Frankfurter Hof in Frankfurt, Germany

H World International Announces Layoffs at Steigenberger Frankfurter Hof

H World International, the owning company of Steigenberger Frankfurter Hof, has introduced layoffs at the hotel. The hotel is one of the most famous in Germany and has been open since 1876. The layoffs are part of a cost-cutting measure by H World International, which is facing financial difficulties due to the COVID-19 pandemic.

Steigenberger Frankfurter Hof to Lay Off 20% of Staff

The layoffs will affect around 20% of the hotel's staff, or about 100 employees. The majority of the layoffs will be in the hotel's food and beverage department. H World International said that the layoffs are necessary to ensure the hotel's long-term survival.

H World International Facing Financial Difficulties

H World International has been facing financial difficulties for several years. The company reported a loss of €100 million in 2019, and its debt has increased to €1 billion. The COVID-19 pandemic has exacerbated the company's financial problems, as travel restrictions have led to a sharp decline in hotel occupancy rates.

Layoffs Part of Cost-Cutting Measures

The layoffs at Steigenberger Frankfurter Hof are part of a series of cost-cutting measures that H World International is implementing. The company has also closed several hotels and sold off some of its assets. H World International is hoping that the cost-cutting measures will help it to improve its financial position and avoid bankruptcy.

Layoffs a Blow to Hotel Industry

The layoffs at Steigenberger Frankfurter Hof are a blow to the hotel industry in Germany. The hotel is a landmark and a major tourist attraction. The layoffs will have a negative impact on the local economy and will make it more difficult for other hotels to attract and retain staff.

Union Condemns Layoffs

The union representing the hotel workers has condemned the layoffs. The union said that the layoffs are a "betrayal" of the workers and that they will have a devastating impact on their lives. The union has called on H World International to reconsider the layoffs and to work with the union to find a solution that is fair to the workers.

H World International Defends Layoffs

H World International has defended the layoffs, saying that they are necessary to ensure the hotel's long-term survival. The company said that it has tried to avoid layoffs, but that it has no other choice given its current financial situation.