Five-star hotel, Kempinski Hotel Gold Coast City, is expected to lay off about 340 staff due to coronavirus.
The decision was taken on the back of poor patronage of its services as a result of the global emergency health crisis.
The hotel is closing down four floors of its multi-storey structure to cut down operational cost, Finance Minister, Ken Ofori-Atta has disclosed.
“For a hotel like Kempinski which has about 400 workers, they are letting 340 go home. They are closing about four floors of that hotel… And those become really difficult moments. It is a sobering moment… we do get panic attacks as we wake up thinking of how best to do it,” he told parliamentarians.
Some other companies are also laying off some employees, the Minister revealed.
“…there are issues of job losses that we have to contend with… It is time to look at unemployment benefits,” Mr Ofori Atta said.
The Finance Minister announced the government will be rolling out a new initiative called the COVID Care and Re-Vitalisation of Enterprises Programme to support struggling businesses.