Hyatt Hotels Corporation announced it wouldsuspend operations at some hotels, implement temporary furloughs as well as pay and work reductions that will impact all Hyatt corporate employees across global regions and all levels and responsibilities, from April 1 through May 31.
Hyatt corporate employees’ eligibility for healthcare and other benefits will not change, and colleagues may also file for unemployment benefits during this period. For colleagues on a Hyatt healthcare plan who have been furloughed, the company is actively taking steps to protect and fund benefit coverage (including employee benefit premiums) for up to two months. Temporarily furloughed employees will be eligible for unemployment benefits and will be encouraged to use PTO days to cover pay during the period.
The company is also in the process of setting up a global Hyatt Care Fund, which will be seeded by 100 percent of Hyatt leadership team’s salary reductions as an initial contribution. Both president and CEO Mark Hoplamazian and chairman of the board Tom Pritzker are forgoing 100 percent of their salaries, and Hyatt’s senior leadership team is taking a salary cut of 50 percent through the end of May. The proceeds of this fund will be distributed to those colleagues with the most pressing financial needs due to loss of income.
Photo: Courtesy of Hyatt