Le Méridien has axed 38 jobs from its three flagship hotels in London.
Six employees have been made redundant at the Le Méridien Waldorf hotel, 13 at the Grosvenor House and 19 at the Le Méridien Piccadilly. The redundancies include all levels of staff, including management.
Vice-president of human resources Peter Bennett said: "Like most companies in the hospitality and travel industry, it has been necessary to review our operations. In light of the current downturn in international business travel, we have had to unfortunately reduce the manning levels."
Le Méridien is also selling off a number of properties, including the former Forte Ritz hotel in Madrid. The sale is due to be confirmed on 22 April and is expected to raise more than £80m. Alicia Koplowitz, Spain's richest woman, is understood to be part of the buying syndicate, although another hotel operating group is also involved.
Source: Caterer & Hotelkeeper magazine, 17 - 23 April 2003