TripAdvisor a big travel portal, which has been on the top when we talk about the top travel company or portal. But if you believe the insider’s reports, things are not that rosy inside the company as it plans to slash down the jobs by cutting 200 jobs. This will be around 5 percent of the total workforce claimed the sources family to this matter. As per reports, a majority of job cuts would be seen in the TripAdvisor’s experiences departments and not from the freshers or similar divisions.
These would include a wide range of activities like cooking class professionals, guided tours people and others who had remained the source of growth for the TripAdvisor in recent years would lose their jobs. However, in the latest earnings quarter, the adjusted amount of earnings that come from the experiences along with the dining division would fell double digits vs the same amount of time a year ago. It was the group called Bloomberg, which reports this news the first stating that job cuts would be made effective soon. This decision has been the layoffs for the online travel operator that is seen struggling in order to fend off the competition seen from competitors like Google and others.
The TripAdvisor’s CEO, Stephen Kaufer was seen referring to the competitive space on the company’s third quarter earnings when he said that Google has turned more aggressive, which somewhere has put an impact over the business of TravelAdvisor. This push coming from Google has also put its impact over other travel portals and companies like Expedia, which often relied more on search engines to drive more traffic to their websites. Last November, we saw Ernst Teunissen, the Chief Finance Officer of the company saying that their group is now looking for three key areas for slash down the cost. This included the experience and dining division.
He further said that they are now looking ahead to slash down the 60 million USD to 80 million USD all together. Naved Khan the known analyst at the company called Suntrust claimed that the targeted cost cuts would, however, remain consistent with the expectation level. He is seen holding the cost of 43 USD target and thus founds enough of opportunity of reducing the cost in the hotel business of TripAdvisor due to the lower branded ad expenditure. As per reports, the stock of TripAdvisor this seemed to have closed at $30.56 this Thursday, which is a cost that has gone down by 45 percent from a year ago.