Agoda laying off 1,500 workers
Asia focused OTA Agoda is the latest online platform to announce big job cuts.
It will lay off 1,500 employees as a broad cost-cutting initiative hasn’t been effective enough to avoid job cuts.
"We need to resize and reshape teams to adapt to what travel will look like in the future, and this means that we have taken the very difficult decision to reduce our existing team by 1,500 employees," chief executive John Brown said in a statement.
"We announce the need to make even greater savings in order to ensure that Agoda can weather this crisis and prepare for the long term."
Brown is going without his salary for the rest of 2020.
In addition there is a hiring freeze, and marketing spend will be cut back.
It is a significant downsizing of more than a third as the company employs about 4,000.
Most of the job cuts in the Booking Holdings owned Singapore based company are in the Customer Experience teams, as well as some downsizing in IT, finance and marketing.
Apart from Brown, other executives will take a 20% pay cut.
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