Staff in the Hand Picked Hotel Group have been told pay may be cut temporarily.
In an email seen by the BBC, staff across the group, which has about 1,000 people at 21 sites and venues across the UK, including five premises around the Channel Islands, were told the decision had been made because of a drop in demand.
A staff member at a site said: "We have just had to work really hard and endless hours over Christmas and they do this. Some staff are talking about walking out because of it."
Senior bosses said they had "made the tough decision" to reduce "payroll hours in the short-term" and they were "committed to our people."
Redundancies announced
The Jersey staff member said: "There was a call with the CEO and owner a couple of weeks ago and they talked about how much money the hotels have lost and they can't keep losing.
"They have closed the bar all day and only open at night times. We can't even try and make money and serve because everything is shut."
Staff were told that the situation would be reviewed on a weekly basis and decisions would be made in line with hotel and departmental needs.