The UK’s biggest tour operator, Tui, will be looking to cut costs this year of 30% due to turnover and earnings being significantly lower this year because of the coronavirus pandemic.
The firm said its turnover and earnings would be significantly lower in the current financial year, posting losses of 845.8 million euro (£747m) in the first half of 2020, compared to 289.1 million (£255m) in the same period 12 months previously.
With cost savings only partly compensating for the slump the company have warned of the cor has warned that up to 8,000 jobs will have to be cut globally.
A spokesperson for the 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.”
Despite Health Secretary Matt Hancock saying yesterday it was unlikely that “big, lavish international holidays” were going to be possible this summer, Tui have confirmed they are ready to resume providing holidays, using new social distancing and cleaning measures.
Have you got a TUI holiday booked for this year?
