TripAdvisor CEO and co-founder Stephen Kaufer has announced that the company is reducing its workforce due to the effects of COVID-19 pandemic, which has largely affected the travel industry
In a blog post, TripAdvisor confirmed that the layoffs will impact 900 employees, which is about a quarter of the company’s employees.
The company detailed that it is already on Phase 3 of cost reduction strategies after exhausting all valiant efforts to retain employees.
Phase 1 entailed putting a stop on all business travel and non-essential vendor relationships and freezing hiring. Phase 2 was enacted when the pandemic progressed and TripAdvisor took advantage of the government subsidy programs in Europe. It also furloughed hundreds of employees in sales-related roles.
With no clear end in sight, the tech company is forced reduced its workforce and furloughed more employees. In the United States and Canada, we are eliminating the roles of more than 600 employees.
Employees leaving Tripadvisor will be offered transition packages, including severance pay and outplacement support. In the US and Canada, the company will also provide health insurance continuation for a period of time.
Kaufer ended his blog post with an appeal to his networks to help the out-of-jobs employees for their future employment. TripAdvisor will be launching the Tripadvisor Alumni Network, a community of current and past employees of this company that can assist in transition efforts. The community aims to help former TripAdvisor employees who are seeking future employment.