The global pandemic has hit every business very hard, with thousands losing their jobs and many others trying to keep their businesses afloat. But it looks like the travel sector is the worst hit. In the past OYO had laid off its employees and now, Expedia has laid off 300 employees in the country. The ongoing trouble in the travel sector has only added to the company’s woes which had recently started to mark its presence in India.
Also read: IndiGo To Lay Off 10% Of Its Total Employees
The Company Gave Pink Slip To 3000 People Globally
Globally too, the company has been trying hard to retain its employees. In the third quarter of FY21, its revenues dropped by 58% year-on-year. In the month of April, the company had announced that it was giving a pink slip to 3,000 people from its global operations. This accounted for almost 12% of its total workforce. AirBnB Lays Off 1,900 Employees Amid Slump.
Less Hope For Expedia’s India Office
According to sources, the company’s marketing budget has dropped to zero, and the India office will have to sail through on its own. There are several players in the online travel industry, and it is highly competitive. Expedia seems to have realised that it cannot keep burning money to make small profits, especially in a market that relies heavily on discounts. Malaysian Pilot Starts Noodle Stall ‘Captain’s Corner’ After Being Laid Off Amid COVID-19.
Hotels & Resorts To See 65% Occupancy During New Year
India’s travel industry is going through a severe crisis. About 65% of hotels and resorts are likely to stay unoccupied during the Christmas-New Year season. Hospitality players are bot being able to revise their average room rates which are currently 30% lower than last year.
Let’s hope that a COVID-19 vaccine reaches every corner of the world and these tiring times comes to an end sooner than we know.