Gaylord Entertainment to cut 310 positions - WKRN News 2

Gaylord Entertainment to cut 310 positions

Posted: Updated: July 31, 2012 04:35 PM CDT
Gaylord's Opryland Hotel in Nashville Gaylord's Opryland Hotel in Nashville

Gaylord Entertainment informed 310 corporate employees in Nashville Tuesday their positions are being eliminated pending shareholder approval of the company's reorganization.

In a statement, Gaylord said approximately 40%, or 124 employees, will be going to work for Marriott after their end date with Gaylord.

The remaining 60%, or 186 employees, will be let go.

Shareholders still have to approve the deal for Marriott to take over Gaylord.   That vote will happen on September 19.

No employee separations will occur before September 30, 2012.

Once the transition is complete, Gaylord and Marriott will continue to employ about 4,000 Nashville-area workers at Gaylord Opryland and its attractions, the Grand Ole Opry, the Ryman Auditorium, WSM-AM and the newly formed Real Estate Investment Trust.

"As we expressed during May's press announcement, this is an extremely difficult and unfortunate part of the reorganization process as the company prepares to sell the Gaylord Hotels brand and the rights to manage its four hotels to Marriott International, Inc. and convert to a Real Estate Investment Trust, pending shareholder approval," Brian Abrahamson, Vice President of Corporate Communications for Gaylord Entertainment said, adding, "We are committed to assisting all of our impacted STARS with outplacement services as they transition to new employment."

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