Coronavirus : Accor will remove more than a thousand jobs in the world - The Point

A new French giant is preparing to cut its workforce, severely hit by the health crisis. The hotelier Accor announced on Tuesday a plan of savings which include

Coronavirus : Accor will remove more than a thousand jobs in the world - The Point

A new French giant is preparing to cut its workforce, severely hit by the health crisis. The hotelier Accor announced on Tuesday a plan of savings which includes the elimination of a thousand jobs in the world. In the first half, the giant of the hotel industry has posted results in the red.

The group, which was forced to close for several months a large part of its hotels in the world in the wake of the pandemic Covid-19, will realize a savings plan is aiming to reduce its recurring costs by € 200 million by 2022, according to a press release. This plan, which is part of the transformation of the group, will result in the removal of over a thousand jobs in the world, out of a total of 18 000, said its deputy director general, Jean-Jacques Morin, during a press conference call.

training

"It is difficult" to make a plan of savings "in a business around your men without having an effect around the staff," said Jean-Jacques Morin. "1000 people are going to have to reposition, we are going to help them," he added, referring in particular to the implementation of training.

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These job cuts are going to " touch all entities of the group, which includes brands such as Ibis, Sofitel, Novotel, Mercure or Pullman, said the deputy director, without specifying the countries concerned. This announcement comes after the one that Accor has swung into the red in the first half, with a net loss of 1.5 billion euros mainly due to write-downs of the value of some of its assets due to the pandemic.

sales divided by two

These impairments include "acquisitions" made " in the last few years ", as the strings FRHI and Mantra, according to Jean-Jacques Morin. The sixth group in global hotel had made a profit of 141 million euros on the same period last year. The group has also suffered an operating loss of 227 million euros, against a surplus of eur 375 million last year.

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As for the turnover, it has been divided by two, to 917 million euros. It is, however, above the consensus expectation of analysts by Bloomberg, which called for $ 760 million. Has the Paris Bourse, the title of Accor appears to 21,96 euro prior to the publication of these figures. The value of the share has been almost halved since the beginning of the year.

Updated Date: 04 August 2020, 15:33

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