RLH CORPORATION ANNOUNCES ORGANIZATIONAL CHANGES; IMPLEMENTS REDUCTION IN FORCE AND OTHER COST SAVINGS; PROVIDES OPERATIONAL UPDATE RELATED TO COVID-19
RED LION HOTELS (RLH)
Last red lion hotels earnings: 2/27 06:30 am
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US:NYSE Investor Relations:
ir.redlion.com/investor-relations
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Source: GlobeNewswire
DENVER, April 02, 2020 (GLOBE NEWSWIRE) -- Red Lion Hotels Corporation (the “Company”) (NYSE: RLH), a hospitality company doing business as RLH Corporation which franchises midscale and economy hotels, today announced a series of organizational changes and cost cutting measures including changes to senior management, a reduction in force and the closing of the Company’s Spokane office. These initiatives accelerate cost-cutting measures begun at the end of 2019 and broaden the scope of cost reductions in light of the COVID-19 pandemic. Carter Pate, Chairman of the Board stated, “The increasing challenges presented by the COVID-19 pandemic have prompted the Board of Directors and management to accelerate our cost reduction program. The changes include a reduction in workforce, executive, staff and Board compensation reductions, closing the Spokane office and the suspension of non-essential cap-ex programs. While difficult, these steps are necessary to maximize available resources t
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