Layoffs impact 15 percent of workforce
In July 2020, Choice Hotels laid off 15.0% of its corporate workforce in the United States, after initially placing those 220 employees on a 60-day furlough in late April 2020. Hotel occupancy rates hit record lows over spring and summer 2020, falling as low as 26.0% in company brands in late March, as a result of the COVID-19 (coronavirus) pandemic. Consequently, several competitors laid off a similar share of their workforces as Choice Hotels and other hotel businesses tried to stave off the effects of the pandemic
COVID|Balance Sheet|LaborIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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