Whitbread Announces Job Cuts and Restaurant Closures Amid Record Profits

Tuesday, 30 April 2024, 08:59

Whitbread, the owner of Premier Inn, is set to reduce its workforce by 1,500 and close over 100 struggling restaurants despite posting record profits and increasing returns to shareholders. The company's decision to downsize comes as a surprise given its strong financial performance, raising concerns about the underlying challenges in the hospitality industry.

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Whitbread to Cut Jobs and Close Restaurants

Despite reporting record profits and delivering strong returns to shareholders, Whitbread, the owner of Premier Inn, will be cutting 1,500 jobs and closing over 100 struggling restaurants.

Consultation Process Underway

The hospitality group has started a consultation process to address the job cuts and closures, aiming to find alternative opportunities for affected employees.

Impact: The decision reflects challenges within the hospitality industry despite the company's financial success.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.