Whitbread is implementing a more aggressive cost-cutting program, aiming to save £50 million annually until 2030, as it confronts weakening demand in the hospitality sector.
The company reported flat revenues of £1.57 billion and a 22% decline in profit before tax to £309 million, signaling challenges in recovering from the pandemic.
UKHospitality has criticized the potential employer national insurance contributions increase, emphasizing that soaring staff costs could stifle hiring and limit wage growth across the industry.
In addition to job reductions, Whitbread plans to close 112 restaurants and has sold 51 sites, indicating a strategic shift to adapt to current market conditions.
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