MyTravel Announces Drastic Cost-cutting Plans

MyTravel
has announced its plan to cut down on costs across its British business including 2,000 job losses among its 23,000 staff. The company intends to restructure its 260-strong Going Places travel agency chain and its aircraft charter operations
700 redundancies were announced in January in administration staff in Manchester, Rochdale and Helmshore. A further 600 cuts are imminent and the company is in the process of informing their staff.


MyTravel’s holiday bookings plunged due to the September 11 attacks, especially as it had stepped up its capacity in an attempt to garner more market share.
Customers were putting off making holiday plans due to the present hostilities in Iraq.

 

Related stories on ITN:

(21/03/2003) MyTravel to Sue EC Over Failed First Choice Bid

(28/02/2003) Founder of MyTravel Resigns

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(28/11/2002) MyTravel Reports `Unacceptable Performance` for the Year Ended 30 September 2002

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