Banyan Tree to slash staff ahead of 'coming recession'
 

An honorable member of the Coffee Shop Has Just Posted the Following:

Banyan Tree Hotels and Resorts will slash 12 per cent of its 1,400- plus workforce over the next few months as part of a restructuring ahead of a "relatively prolonged" global downturn.

"The restructuring is not just a pure cost-cutting exercise. It is a periodic restructuring to become more lean, more efficient. The cost savings are expected to run into the millions," Banyan Tree Holdings executive chairman Ho Kwon Ping told The Straits Times yesterday.

http://www.straitstimes.com/business...69#xtor=CS1-10


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