Marriott International is laying off 673 employees at its corporate headquarters in Maryland, a sign that the pandemic-stricken travel industry isn't close to recovering.
The Maryland-based hotel chain announced the layoffs in a Work Adjustment and Retraining Notice. Marriott employs about 4,000 people at its Bethesda headquarters.
Marriott has furloughed thousands of hotel employees as demand dried up. It's made no secret how badly Covid-19 is destroying business, saying in May that the pandemic is "having a more severe and sustained financial impact on Marriott’s business than 9/11 and the 2008 financial crisis, combined."
The stock is down 30% for the year.