The business travel agency BCD is cutting three thousand of the fourteen thousand jobs worldwide.

That is what founder John Fentener van Vlissingen says on Tuesday to

Het Financieele Dagblad

(

FD

).

Some of the offices will also be closed.

The cutbacks are the result of the slump in the airline industry, which has also hit the business travel market hard.

In the outbreak of the corona crisis, BCD saw sales decline by 99 percent.

The company is now receiving more orders again, but turnover is still 75 percent lower than normal.

Not only are jobs being cut and offices closed, no bonuses are paid either.

The Fentener van Vlissingen family, which is one of the richest families in the Netherlands, also donates capital to keep the company afloat.

Last year, BCD had sales of EUR 16 billion and is one of the world's largest players in the corporate travel and conference market.

This year the company will suffer a significant loss, says the founder.

BCD will probably also be in the red next year.

Fentener van Vlissingen expects that the business travel market will only recover from the corona blow in five years.