TripAdvisor to cut around 25% of its staff
In a blog post, TripAdvisor CEO and co-founder Stephen Kaufer announced that the company would be reducing its workforce due to the harsh impact the coronavirus crisis has had on the travel industry.
The layoffs, which amount to roughly 25% of its staff, will reduce the company's headcount by 900 employees. Of the cuts, 600 are accounted for by TripAdvisor teams in the US and Canada.
In a letter to his team that Kaufer shared, he noted that the layoffs are an effort to “seek significant cost savings” and steer the company through the crisis to the other side.
"[...] Sometimes, the most valiant of efforts aren’t enough to counter outside circumstances and, as a public company, it is our responsibility to adjust, adapt and evolve to the environment that surrounds us,” Kaufer wrote.
Aside from the layoffs, TripAdvisor also reduced pay and work for some of the employees as it plans for a reduced schedule for the summer months.
“As CEO, you plan for the best and worst case outcomes that could affect our business,” Kaufer wrote. “Unfortunately, there is no playbook for this moment that we’re in together right now.”