TUI. This picture shows a Boeing 737-800 of the TUI airline during takeoff on September 24, 2019, at the airport in Duesseldorf, Germany. Photo by Ina Fassbender/AFP
BERLIN, Germany – The world's biggest tourism group TUI said Wednesday, May 13, it planned to slash 8,000 jobs in a bid to cut costs as the industry struggles to stay afloat with travel severely curtailed by the"We are targeting to permanently reduce our overhead cost base by 30% across the entire Group," said TUI of the cuts affecting 1 in 10 jobs.
"This will have an impact on potentially 8,000 roles globally that will either not be recruited or reduced." Highlighting the impact of the crisis, the group reported a net loss of 763.6 million euros for its 2nd quarter to March. To halt transmission of the coronavirus, many countries have slammed borders shut and banned tourism,To survive the crisis, TUI had sought a lifeline from the government, signing a deal in early April for a