TripAdvisor reportedly cutting a quarter of global workforce
TripAdvisor is reportedly cutting a quarter of its global workforce as it cuts costs in response to the impact of the coronavirus pandemic.
The review company and OTA is also closing offices in San Francisco and Boston as part of the cost-cutting measures.
Around 600 of the 900 roles being lost at the company are in the US, and most remaining employees are being made to switch to a four-day week for three months from June 1 and take a corresponding 20% pay cut.
"These are the most difficult cost-saving decisions I have ever had to make," wrote chief executive Steve Kaufer in a email to staff, Bloomberg reported. "This is a tough day on many levels, and this pandemic has been nothing short of surreal."
Kaufer said he would forgo his salary for 2020, and predicted the full impact of the pandemic o the business was yet to come.
But he said: "I am confident that our business and the industry will recover."