No job cuts or furloughs are being made at this time, ACVB President and CEO William Pate said, but personnel cuts are possible if the economy and hotel/motel tax collections continue to decline, according to the Atlanta Business Chronicle.
Pate said the bureau expects to save $400,000 this year by ending its matching contributions to employee retirement and profit sharing plans, according to the report. Pate informed ACVB’s 74 employees of the changes in a Friday afternoon staff meeting, according to the Atlanta Journal-Constitution. .
The bureau, which is charged with selling Atlanta globally as a business and leisure travel destination, said the cuts will not affect its programming capacity. Hospitality is an $11.4 billion economy driver for Atlanta, responsible for about 230,000 jobs.