Unlike many companies in the hospitality and travel sectors that aremaking employee cutbacks and layoffs in the current economic downturn,Bangkok-based Six Senses Resorts & Spas has introduced an innovativealternative.
Hosts at the company’s”Innersphere” and “Core” level will take a 10% cut in pay, and in return,receive the same amount in company shares. The shares may be sold back to thecompany from between 12 and 24 months hence, with the buyback price not beingless than the value of the shares when received. An additional upside is thatthe shares have the potential to appreciate during this period.
The programme is mandatory for non-Thai hosts, while Thai nationals atthe Bangkok hub will have the choice to opt in or out of the offer.
“As with other companies in our sector, we need to weather the storm,”said Six Senses CEO and Chairman, Sonu Shivdasani.
Comments are closed.