Hyatt Regency lays off 133 employees
In a statement issued Tuesday night, General Manager Aashish Kumar said the hotel is currently non-operational and unable to pay salaries.
KATHMANDU: Hyatt Regency Kathmandu has laid off all 133 of its employees following the severe damage caused during the Gen Z protests on Sept 8 and 9 (Bhadra 23 and 24).
Citing heavy losses and the financial burden of repair work, the hotel’s management announced that it will implement workforce reductions effective Dec 8 (Mangsir 22) in accordance with Nepal’s Labor Act, 2074.
In a statement issued Tuesday night, General Manager Aashish Kumar said the hotel is currently non-operational and unable to pay salaries.
He explained that the management must allocate its limited resources toward extensive repair and restoration work before operations can resume.
Hyatt Regency sustained massive destruction during the protests, with damages reportedly worth several crores of rupees.
The management stated that substantial investment is required to restore the hotel and that, in the absence of revenue during the closure period, it is not feasible to retain staff.
According to the statement, discussions were held with trade unions active at the establishment regarding possible employment alternatives, but no agreement was reached.
