Marriott CEO says coronavirus is more damaging to business than financial crisis, 9/11 combined

Arne Sorenson.
(Image credit: Drew Angerer/Getty Images)

The coronavirus pandemic has shaken the travel and hospitality industry.

That's been made evident by Marriott's decision to furlough two-thirds of its 4,000 corporate employees at its headquarters in Bethesda, Maryland, as well as two-thirds of its corporate staff abroad as the hotel company tries to trim payroll, The Wall Street Journal reports. For a period between 60 and 90 days, those furloughed will receive 20 percent of their salaries, while those who stay on will be subject to 20 percent pay cuts and reduced workweeks, a spokeswoman said.

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Tim O'Donnell

Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.