Buzzy Culture Trip to lay off 50% of UK office - Business Insider

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.

Redundancies at the startup come as the COVID-19 pandemic hammers the travel industry more widely. Earlier this week, TripadvisorCulture Trip confirmed the layoffs in a statement, saying that like its peers and competitors it was being adversely impacted by the pandemic and was forced to cut costs. "Managers and directors [in New York] were given 24 hours or less than 24 hours notice to deliver information to teams that were being let go," a senior source said. "Managers had zero input on who to fire [and] there was no reference made to performance reviews."

One alternative to layoffs during the pandemic is furloughing, an emergency measure brought in by the UK government that allows businesses to put staff on leave without letting them go. The government will pay up to 80% of those employees' salaries up to a maximum of £2,500 per month, with the scheme set to last until the end of June.

According to UK financials filed on 10 October 2019, the company generated £515,000 in revenue in the year ending September 2018, a slight increase on its £361,000 turnover the prior year. There is consternation and some resentment among staff that the weight of redundancies is not being spread equally, with employees saying that senior management will not be dismissed as part of the redundancy process.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lyft to lay off 17% of staff, furlough hundreds more amid coronavirus - Business InsiderLyft is cutting nearly 1,000 jobs and furloughing 288 others, it said Wednesday. The company said that its executive leadership is taking a 30% pay cut, with vice presidents seeing a 20% reduction and 'all other exempt employees' taking a 10% cut. Executive leadership should take 50% pay cut
Source: BusinessInsider - 🏆 729. / 51 Read more »

WeWork cuts begin as the company faces coronavirus crisis - Business InsiderOther venture-backed competitors, including Knotel, Industrious, and Convene, have laid off hundreds as the pandemic drives down demand for office. Only if WeWork had diversified into agricultural real estate. zoom_us
Source: BusinessInsider - 🏆 729. / 51 Read more »

Barclays' CEO says crowded offices could be 'a thing of the past' - Business InsiderAcross Wall Street, banks are rethinking how to safely return workers to offices which could look radically different in a post-pandemic world.
Source: BusinessInsider - 🏆 729. / 51 Read more »

How will offices change after coronavirus, architecture CEOs say - Business InsiderOffices will bring in more outside air and receptions will serve as checkpoints. It is 'going to be a time of transformation,' Diane Hoskins said. The SBA STOP BIG BANKS from Processing their PPP loans. Help BOA, Chase and Wells process all their loans under 150k. Help the small business to the finish line
Source: BusinessInsider - 🏆 729. / 51 Read more »