The coronavirus demand crunch has taken another bite: Palo Alto-based corporate travel-focused unicorn TripActions has reportedly laid off hundreds of staff yesterday.
Per this post on Blind — written by someone with a verified TripActions email address — the company laid off 350 people. Business Insider reported the same figure yesterday, and the Wall Street Journal said the layoffs amount to between one-quarter to one-fifth of the startup’s total staff, citing a person familiar with the situation.
In an email to Crunchbase News, TripActions confirmed it has axed jobs in response to the COVID-19 global health crisis — saying it has “cut back on all non-essential spend.” It did not confirm exactly how many employees it has fired.
“[We] made the very difficult decision to reduce our global workforce in line with the current climate,” TripActions wrote in the statement. “We look forward to when the strength of the global economy and business travel inevitably return and we can hire back our colleagues to rejoin us in our mission to make business travel effortless for our customers and users.”
“This global health crisis is unlike anything we’ve ever seen in our lifetimes, and our …read more
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