Massive layoffs at Steigenberger

German hotel chain Steigenberger is cutting 1,000 jobs

The company is blaming the cuts on the impact of the COVID-19 pandemic

German hotel chain Steigenberger is cutting 1,000 jobs, or about 20% of its workforce, as the coronavirus pandemic continues to weigh on the hospitality industry. The company said in a statement that the cuts were necessary to "adjust to the new market conditions" caused by the pandemic. Steigenberger has been hit hard by the travel restrictions and social distancing measures that have been put in place to slow the spread of the virus. The company said that it had explored all other options before making the decision to cut jobs. It said that it had implemented cost-cutting measures, such as reducing working hours and furloughing staff. However, it said that these measures were not enough to offset the losses that it has incurred during the pandemic. The cuts will affect all areas of Steigenberger's business, including hotels, restaurants, and corporate offices. The company said that it is working with unions to minimize the impact of the cuts on its employees. Steigenberger is not the only hotel chain that has been forced to cut jobs during the pandemic. Marriott International, Hilton Worldwide, and Hyatt Hotels have all announced plans to lay off thousands of workers. The pandemic has had a devastating impact on the hospitality industry. Travel restrictions and social distancing measures have led to a sharp decline in demand for hotel rooms. This has forced many hotels to close or operate at reduced capacity. The industry is not expected to recover to pre-pandemic levels until at least 2023. This means that hotel chains will continue to face challenges in the coming months.