Whitbread has announced plans to cut 300 jobs and cancel two hotel projects following the events of September 11. The company reported its pre-tax profits before exceptional items for the first half year fell by 25 per cent from last year to 135.7m. The job cuts will be at the company's Marriott Hotels group, which has suffered a 25 per cent drop in sales at its London outlets. In a further shake-up Whitbread has announced plans to sell a portfolio of pubs and restaurants, including Cafe Rouge. David Thomas, Whitbread's chief executive, has set tough performance targets; outlets that fail to hit profit targets will be jettisoned.
|