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Travel giant Tui to cut thousands of jobs

Travel giant Tui says it is braced to cut up to 8,000 roles worldwide, with the firm calling Covid-19 the “greatest crisis” the industry has ever faced.

The UK’s biggest tour operator recorded losses of €846m euros ($918m; £747m) in the first half of 2020, compared to €289m in the same period in 2019.

Fritz Joussen, chief executive of the Anglo-German travel company, said: “We are targeting to permanently reduce our overhead cost base by 30% across the entire group.

“This will have an impact on potentially 8,000 roles globally that will either not be recruited or reduced."

Tui sais its losses were compounded by the grounding of its Boeing 737 Max planes following two crashes involving Max models run by other airlines.

Source: BBC

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