- Luxury hotel Makati Shangri-La, Manila will be temporarily closing its business starting February 1
- The company said they have been struggling financially for months since the onset of the pandemic
- It vowed to reopen, however, once business conditions improve
After nearly three decades, the iconic Makati Shangri-La, Manila will be temporarily closing its doors to guests starting February after falling vic
tim to the economic downturn brought by the COVID-19 pandemic.
In a statement released by the Shangri-La Group on Wednesday, the company said they have been struggling financially for months despite implementing multiple cost management initiatives that includes pay cuts at management level and shorter work days.
“At the same time for the past 10 months, we have provided assistance for our rank and file to help them through these challenging times,” it said.
However, despite these efforts, the ‘prolonged recovery timeline’ proved to be a heavy burden on the company’s financial capacity here in the country.
After weeks of considerations and deliberations, the company said, they have finally come to the ‘extremely difficult decision’ to reorganize their workforce and operation.
“As part of the reorganization exercise, we will sadly be parting ways with a number of colleagues and we will be temporarily closing Makati Shangri-La, Manila,” the statement read.
The luxury hotel branch will be closing beginning February 1, 2021. It did not provide details on the number of employees that will be affected by the job cuts.
Aside from providing a fair compensation package, the Shangri-La Group also assured it will extend its health care coverage and grocery support for the employees until December 31, 2021.
Likewise, they will be providing the staff with career transition assistance to help them get back on their feet.
“We continue to vigilantly monitor local and global developments and look forward to reopening Makati Shangri-La, Manila at a latter date when business conditions have improved,” it added.
Aside from its Makati branch, Shangri-La also operates other branches such as the Edsa Shangri-La in Ortigas Centre, Manila Shangri-La at the Fort in Taguig City, the Shangri-La Boracay Resort and Spa, and the Shangri-La Mactan Resort and Spa in Cebu.