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TripAdvisor cutting a quarter of its workforce
TripAdvisor has announced a second round of job cuts.
It stood down 200 employees earlier this year and is now furloughing another 900.
That represents nearly a quarter of the global workforce.
About 600 of these jobs are disappearing in the US and Canada, as it shuts its San Francisco and Boston offices
It is necessary to ‘seek significant cost savings’ TripAdvisor CEO Stephen Kaufer said in a blog post.
"Sometimes, the most valiant of efforts aren’t enough to counter outside circumstances and, as a public company, it is our responsibility to adjust, adapt and evolve to the environment that surrounds us," Kaufer said.
Going forward TripAdvisor will cut non-essential vendor relationships and institute a hiring freeze for an indefinite period.
TripAdvisor’s remaining workers will have their salaries reduced by 20% from June, and move to a four-day working week.
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