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Marriott Cuts Jobs, Sends Thousands On Furlough, CEO Calls Coronavirus Worse Than 9/11 [Yahoo! Finance News]
Last marriott international - class a earnings: 2/26 04:30 pm
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Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter Marriott International Inc. MAR furlough What Happened Marriott is furloughing two-thirds of its 4,000 corporate employees at the Bethesda, Maryland head office. Approximately two-thirds of corporate staff abroad will also be furloughed reported the Wall Street Journal, citing a company spokesperson. In a video message to employees, Marriott CEO Arne Sorenson said that the hotel’s business was running nearly 75% below normal levels. He calls the present period’s financial impact worse than 9/11 and the 2008 financial crisis combined. Tens of thousands of staff from managers to housekeepers are expected to be put on a leave of absence as Marriott closes its properties worldwide due to the upheaval in global travel. Why It Matters Other major hotel chains are also cutting and furloughing staff. Hyatt Hotels Corporation Hilton Worldwide Holdings I
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NEWS
- Marriott International to introduce W Hotels to Riyadh's KAFD [Yahoo! Finance][Yahoo! Finance]
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- I spent a night in Panama's richest neighborhood, often called a 'little Dubai' or the 'Miami of Latin America' [Business Insider][Business Insider]
- A timeline of violence on Metro buses and trains since the beginning of 2024 [CBS News][CBS News]
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SEC Filings
SEC Filings
- 5/16/24 - Form 4
- 5/15/24 - Form 4
- 5/15/24 - Form 8-K
- MAR's page on the SEC website
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