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Meltdown Cuts 650 Jobs in Sandals Resorts

Bad news in the sunny Caribbean. Since we're not booking enough vacations down there, the Sandals Resorts are letting around 650 hotel staff go from their resorts in the Bahamas, Jamaica and St. Lucia.

That figure makes around 7% of the resort's workforce, so things aren't as bad for Sandals as they are at Wyndham where 12% of people will be out of a job. That probably doesn't make it any easier for the housekeeping staff or waiters in the Caribbean who won't have a paycheck next month.

Around 80% of vacationers in the region are American and the (optimistic-sounding) guess is that arrivals in the Bahamas, for example, will fall 8% for the year. Is it going to get worse? We're no economic experts; in the meantime the silver lining is there'll probably be some great deals going to entice more people to the area.