Tags: job cuts | Connecticut | Starwood | lodging

Hartford Courant: Starwood Cuts 163 Jobs From Old Headquarters

Hartford Courant: Starwood Cuts 163 Jobs From Old Headquarters

(Dreamstime)

By    |   Tuesday, 01 November 2016 11:43 AM EDT

Starwood Hotels, the lodging company that Marriott International bought this year for $12.2 billion, plans to cut 163 employees in Connecticut.

Marriott notified the state Department of Labor by letter on Friday that there would be a mass layoff "most likely at the close of business on Dec. 31," the Hartford Courant reported.

Most of the cuts in Starwood’s Stamford office are for managers, directors, vice presidents and senior vice presidents, according to the newspaper. The firings also include administrative assistants, executive assistants and specialists in supply chain, design and brand management.

"When we announced the merger in November 2015, we said that there would be some duplication of functions — mostly at the corporate level," spokeswoman Felicia McLemore said in a statement. "While we don't have an exact number of jobs that will be impacted in Stamford at this time, we will know more about staffing decisions as we continue the integration process."

Connecticut's Department of Economic and Community Development in 2014 gave Starwood a $5 million loan in exchange for a promise to increase jobs in Stamford from 980 to 1,320 by the end of 2017.

If Marriott reduces employment at the former Starwood headquarters to fewer than 400 employees before 2019, it would have to pay back all of the state loans from 2009 and 2014, and would have to pay $1.7 million in taxes it avoided through credits, according to the agreement.

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StreetTalk
Starwood Hotels, the lodging company that Marriott International bought this year for $12.2 billion, plans to cut 163 employees in Connecticut.
job cuts, Connecticut, Starwood, lodging
236
2016-43-01
Tuesday, 01 November 2016 11:43 AM
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