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InterContinental Hotels cuts 10% of corporate staff as profit slides

(Reuters) - Holiday Inn owner InterContinental Hotels IHG.L has cut 10% of its corporate workforce, Chief Executive Keith Barr said on a call with analysts on Tuesday after posting lower first-half results.

The job cuts, announced internally in July, follows similar moves by major hotel operators including Europe's biggest hotel group Accor ACCP.PA, Premier-inn owner Whitbread WTB.L and Hyatt Hotels H.N.

The move also comes after the company, which employs over 400,000 people globally, reported revenue that more than halved and profit that tumbled 82% in the first-half of 2020.

Reporting by Yadarisa Shabong in Bengaluru

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