InterContinental Hotels cuts 10% of corporate staff as revenue and profit slide

Holiday Inn owner InterContinental Hotels 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, Premier-inn owner Whitbread and Hyatt Hotels.

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.