UK markets open in 5 hours 40 minutes
  • NIKKEI 225

    26,065.52
    -356.53 (-1.35%)
     
  • HANG SENG

    17,165.87
    0.00 (0.00%)
     
  • CRUDE OIL

    81.41
    +0.18 (+0.22%)
     
  • GOLD FUTURES

    1,672.00
    +3.40 (+0.20%)
     
  • DOW

    29,225.61
    -458.13 (-1.54%)
     
  • BTC-GBP

    17,454.19
    -62.31 (-0.36%)
     
  • CMC Crypto 200

    445.02
    -0.97 (-0.22%)
     
  • ^IXIC

    10,737.51
    -314.13 (-2.84%)
     
  • ^FTAS

    3,745.11
    -75.12 (-1.97%)
     

Whitbread to cut significantly fewer jobs than previously announced

·1-min read
FILE PHOTO: Premier Inn hotel is pictured in Milton Keynes

(Reuters) - Premier Inn owner Whitbread <WTB.L> said on Thursday it expects to cut significantly fewer jobs at its hotels and restaurants than the 6,000 job cuts it announced in September.

Whitbread said the net impact of the layoffs on its cost base remains the same as originally estimated, adding the newly extended government job retention scheme will help in cushioning the impact of the COVID-19 pandemic.

Whitbread, which sold its Costa Coffee chain to Coca-Cola <KO.N> in 2018, had said it expected one-off costs from the layoffs to be about 12-15 million pounds.

(Reporting by Aakash Jagadeesh Babu in Bengaluru; Editing by Aditya Soni)