Wyndham Worldwide Layoffs Job Cut: fires 4000 employees

The economic situation is worsening in multiple sectors. The latest one to add to the list is the Wyndham Hotelss Group WYN which has decided to layoff 4000 employees.

How many employees will be affected by the Wyndham Worldwide Layoffs Job Cut
Around 4000 employees will loose their jobs as a part of the layoffs by the Hotels group.

When will the layoffs actually happen by Wyndham Worldwide Layoffs Job Cut
The layoffs would happen in the first quarter or first 3 months of 2009

What are the primary reason for Wyndham Worldwide Layoffs Job Cut
Restructuring of business, and scale back of the timeshare business are the main reasons for layoffs. Wyndham's hotels include Ramada, Days Inn and Super 8 chains.

How much % does the Wyndham Worldwide Layoffs Job Cut represent?
The 4000 job cuts are about 12 percent of the company's overall work force.

How much savings can be made by Wyndham Worldwide Layoffs Job Cut
Around $75 million can be saved with the job cuts.

As per the news, Wyndham now expects sales in the timeshare business will be $1.2 billion in 2009, down from $2.0 billion in 2008, as it eliminates sales offices and marketing programs. Wyndham also reiterated its fourth quarter and 2008 guidance. But based on the changes to its timeshare business and current economic conditions, the company says it now expects to earn revenue of $3.7 to $4.1 billion for 2009, down from previously announced expectations of $4.1 to $4.5 million for the year

Let's hope that alternative jobs are available to the affected employees of Wyndham Layoffs Job Cut.