Press Up Hospitality Group, owned by Paddy McKillen jnr and Matt Ryan, has recently announced the unfortunate decision to lay off 32 employees at its headquarters in Dublin. Citing “tough trading conditions” as one of the primary reasons for the layoffs, this amounts to approximately 30% of the total workforce at their head office.
The company, known for its diverse portfolio including hotels, restaurants, and cinemas, has faced numerous challenges in recent times. Factors contributing to the layoffs include the recent sale and merger of their hotel portfolio, rising business costs in Ireland, such as increased energy costs and the recent VAT increase, and inflationary pressures affecting the cost of goods. In an attempt to sustain the business and prioritize operational feasibility, the group has found it unsustainable to maintain a large central office team.
Despite the unfortunate circumstances, Press Up Hospitality Group remains committed to focusing on its core business and supporting its remaining 2,500 staff across the organization. The group’s diverse portfolio includes popular brands such as Elephant & Castle, Captain Americas, Wagamama, Wowburger, Stella cinemas, and Dime Coffee Co. However, recent closures, such as the Union Cafe venue in Mount Merrion and Elephant & Castle restaurant in Monkstown, have allowed the company to explore new opportunities, including residential developments.
Press Up Hospitality Group assures that they will work compassionately and directly with the affected employees to explore potential relocation within the group or alternative opportunities outside the company. This commitment demonstrates the group’s dedication to supporting its workforce during this challenging time.
FAQ:
Q: What led to the staff layoffs at Press Up Hospitality Group?
A: The layoffs were primarily attributed to tough trading conditions, recent sale and merger of the hotel portfolio, rising business costs, including increased energy costs and VAT, and inflationary pressures affecting the cost of goods.
Q: What brands does Press Up Hospitality Group own?
A: Press Up Hospitality Group owns a diverse portfolio of brands, including Elephant & Castle, Captain Americas, Wagamama, Wowburger, Stella cinemas, and Dime Coffee Co.
Q: How many employees were affected by the layoffs?
A: Around 32 staff members, accounting for approximately 30% of the head office’s workforce, were made redundant.