BREAKING NEWS

London Business News | Londonlovesbusiness.com

Tui to axe up to 8,000 jobs

Package holiday company Tui are to axe up to 8,000 jobs as coronavirus has decimated the travel and aviation sectors.

The job cuts represent 15% of the total workforce. Tui has reported losses of €540m compared to €106m the previous year.

Chief executive Fritz Joussen said, “Summer holidays in Europe can now gradually be made possible again, responsibly and with clear rules. People want to travel.

“The season starts later, but could last longer.”

The company’s report said, “The tourism industry has weathered a number of macroeconomic shocks throughout the most recent decades, however the Covid-19 pandemic is unquestionably the greatest crisis the industry and Tui has ever faced.”AviationCoronavirusTui

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