TripAdvisor Inc. is cutting a quarter of its workforce and closing offices in San Francisco and Boston in a bid to shrink costs as the coronavirus pandemic decimates travel.
The Needham, Massachusetts-based company is eliminating 600 positions in the U.S. and 300 people in other offices around the world, Chief Executive Officer Steve Kaufer said in a statement Tuesday.
Most remaining employees will be forced to take a 20% salary cut and be reduced to four-day work weeks for three months starting June 1. “These are the most difficult cost-saving decisions I have ever had to make," Kaufer wrote in a email to staff. “This is a tough day on many levels, and this pandemic has been nothing short of surreal." Kaufer previously said he would forgo