Developers Promise Wilshire Grand Hotel Workers Severance
LOS ANGELES (AP) — The developers of a $1 billion downtown Los Angeles high-rise office and hotel complex have reached an agreement with city officials and labor leaders to protect the livelihoods of workers at the hotel currently on the planned construction site.
Korean Air and Thomas Properties Group Inc. said Wednesday that they're committing $10 million dollars toward severance pay and health care benefits for the Wilshire Grand hotel's 480 workers.
The developers are also promising the workers jobs when the new complex's hotel opens. Current plans call for closing the Wilshire Grand in December 2011 and completing construction in 2015.
The project includes a 65-story office tower, a 45-story condo and hotel building and ground-level shops. The city's planning commission is scheduled to consider the proposal on Thursday.
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