KATHMANDU: The Hyatt Regency Kathmandu has announced the layoff of all its employees, citing severe financial losses following the Gen-Z movement-related unrest.
In a statement issued by General Manager Ashish Kumar, the hotel said it has decided to terminate 133 employees in accordance with Section 145 of the Labor Act, 2017. The decision will take effect from December 8. The statement added that the move will be implemented within 30 days of the notice’s publication.
The hotel stated that it suffered massive damage during the Gen-Z protests on September 9, and repair work is still ongoing. It also noted that there is currently no source of income, creating a serious financial challenge.
During the violent incident, criminal groups reportedly vandalized and set parts of the hotel on fire. A foreign guest staying at the hotel was seriously injured while escaping from the blaze and later died during treatment.
The fire forced several guests to jump from the fourth floor to save themselves. The hotel further said that looting and arson during the protest severely tarnished Hyatt Regency Kathmandu’s reputation in the international hospitality sector.
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