STAMFORD, Conn. (CBSNewYork) — Marriott plans to lay off more than 160 workers in Stamford, Connecticut early next year following its recent acquisition of Starwood Hotels and Resorts Worldwide.
Layoffs often occur in mergers that wind up with duplicate staff functions. Joe McGee, of the Business Council of Fairfield County, said it’s now a routine part of the changing business world.READ MORE: Boil Water Advisory Finally Lifted For 4 Northern New Jersey Towns
He noted when GE sold off GE Capital, 6,000 workers were let go. But in that case, almost all workers with financial backgrounds were absorbed by companies in Fairfield County, McGee said.
“It has been a benefit to other companies to get the talent that had been at GE Capital,” McGee said.
While it’s initially difficult for the individual worker, McGee said in the longterm there really is no downside.READ MORE: Ribbon Cutting Marks Official Opening Of NYC's Newest Pride Health Center In The Bronx
Last November, Marriott International announced it would be buying rival Starwood for $12.2 billion. At the time of the announcement, Starwood was Stamford’s largest corporate employer with more than 1,100 people on the job at its headquarters.
The purchase was completed in September.
The acquisition makes Marriott International the world’s largest hotelier, followed by Hilton Worldwide.
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