The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Administrative Services Travel Agency, Tour Operator And Other Reservation Service And Related Activities Travel Agency, Tour Operator And Other Reservation Service And Related Activities 79 - Travel agency, tour operator and other reservation service and related activities
350 jobs Number of planned job losses
Announcement Date
5 August 2004
Employment effect (start)
Foreseen end date
Description
Britain's leading internet travel company, Lastminute.com, revealed that its pre-tax losses had increased by 39% to £16.9 million in the three months to June of 2004 as it absorbed the cost of a series of acquisitions. Lastminute announced that it intended to slash 350 jobs, amounting to 15% of its workforce, and planned to close 10 of its 25 offices in an attempt to get its costs under control.
Sources
5 August 2004: The Financial Times
6 August 2004: The Guardian
Citation
Eurofound (2004), Lastminute.com, Internal restructuring in United Kingdom, factsheet number 60488, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60488.
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