TripAdvisor Is Cutting a Quarter of Staff Amid Travel Freeze - Bloomberg

Excerpt from Bloomberg

TripAdvisor Inc. is cutting a quarter of its workforce and closing offices in San Francisco and Boston in a bid to shrink costs as the coronavirus pandemic decimates travel.

The Needham, Massachusetts-based company is eliminating 600 positions in the U.S. and 300 people in other offices around the world, Chief Executive Officer Steve Kaufer said in a statement Tuesday. Most remaining employees will be forced to take a 20% salary cut and be reduced to four-day work weeks for three months starting June 1.

“These are the most difficult cost-saving decisions I have ever had to make,” Kaufer wrote in a email to staff. “This is a tough day on many levels, and this pandemic has been nothing short of surreal.”

Kaufer previously said he would forgo his salary for 2020, joining a list of CEOs who have taken similar measures. He said the full impact of the Covid-19 pandemic was yet to be laid bare. However, he said, “I am confident that our business and the industry will recover.” Axios earlier reported that TripAdvisor planned to cut jobs, without elaborating.

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