Money News

Whitbread to cut significantly fewer jobs than previously announced

(Reuters) - Premier Inn owner Whitbread said on Thursday it expects to cut significantly fewer jobs at its hotels and restaurants than the 6,000 job cuts it announced in September.

Whitbread said the net impact of the layoffs on its cost base remains the same as originally estimated, adding the newly extended government job retention scheme will help in cushioning the impact of the COVID-19 pandemic.

Whitbread, which sold its Costa Coffee chain to Coca-Cola in 2018, had said it expected one-off costs from the layoffs to be about 12-15 million pounds ($35.45 million).

($1 = 0.7617 pounds)

Reporting by Aakash Jagadeesh Babu in Bengaluru; Editing by Aditya Soni