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Even the Bahamas are feeling the effects of the Economy
Even the Bahamas are feeling the effects of the Economy
Bahamas' Atlantis resort lays off 800 employees
2 hrs 59 mins ago
SAN JUAN, Puerto Rico - The Atlantis hotel and resort in the Bahamas says it has laid off roughly 800 workers due to low occupancy rates amid the global economic crisis.
The cuts represent about 10 percent of the work force at the country's largest private employer.
The layoffs announced Wednesday add to the misery for the Atlantic archipelago's tourism-driven economy, which is reeling from a steep decline in visitors from the United States. Hundreds of other hotel workers already have lost jobs or seen their hours reduced.
George Markantonis is president and managing director of the hotel's owner, Kerzner International Bahamas Limited. He says the decision was "difficult and emotional" because of the impact on the Bahamas.
2 hrs 59 mins ago
SAN JUAN, Puerto Rico - The Atlantis hotel and resort in the Bahamas says it has laid off roughly 800 workers due to low occupancy rates amid the global economic crisis.
The cuts represent about 10 percent of the work force at the country's largest private employer.
The layoffs announced Wednesday add to the misery for the Atlantic archipelago's tourism-driven economy, which is reeling from a steep decline in visitors from the United States. Hundreds of other hotel workers already have lost jobs or seen their hours reduced.
George Markantonis is president and managing director of the hotel's owner, Kerzner International Bahamas Limited. He says the decision was "difficult and emotional" because of the impact on the Bahamas.
It is definitely going to happen everywhere - and for a while unfortunately. I love this blog for everything related to the economy: http://calculatedrisk.blogspot.com/
Anthony for Virgin Islands On Line