Berlin (AFP)
The first world tour operator TUI announced Wednesday its intention to cut 8,000 jobs in the world, that is to say more than 10% of its workforce, consequence of the coronavirus pandemic which has shut down most of its activities.
"We want to permanently reduce our administrative burdens by 30% on the whole group" with "consequences on around 8,000 jobs" that "we are not going to occupy or eliminate", indicates the company.
The group has nearly 70,000 employees worldwide.
The group reported in parallel a strong net loss in the second quarter of its staggered annual exercise, between January and March, down 274.7% to -763.6 million euros. Its operating profit (Ebit) is also in the red, at -681 million euros, falling by 181.2%.
Tui's turnover also fell sharply in the second quarter, down 10% compared to the same period in 2019
Faced with the almost complete cessation of its activities since March, the group released in April an emergency loan guaranteed by the German state to the tune of 1.8 billion euros.
The tour operator thus benefited from a business assistance plan of several hundred billion euros, announced in mid-March by Berlin, including "limitless" loans, guaranteed by the public authorities.
But "the credits must be repaid in a very short period of time," said the group.
This is why "the group is now implementing" a "global program" with "significant cost reductions", so that the group's activity "can continue", even "in a weakened market", comments Tui .
The group is however optimistic: "People want to travel" and "Europe is now gradually reopening". Tui also believes that "summer holidays can be possible", with "clear and responsible rules", particularly in terms of hygiene.
© 2020 AFP