Travel Industry Layoffs
Lately it seems as if no one can read about business without seeing stories about layoffs and downsizing. The travel industry, seriously affected by lessening consumer confidence and the economy, is seeing its share of job losses. In the latest news:
- Boeing will lay off 10,000 workers after a disappointing fourth quarter
- Westin and Sheraton Grand Bahama Our Lucaya Resort lays off 181 workers, or 18 percent of its staff
- United Airlines will cut 1,000 jobs in 2009
- American AIrlines to lay off 170 in Kansas City
- San Jose International Airport to lay off 100 workers in San Jose, Calif.
- Interstate Hotels & Resorts cut 45 corporate positions and slashed senior management pay by 10 percent
- UPS plans to lay off 60 aircraft mechanics
- Revel Entertainment lays off 400 in Atlantic City
Every aspect of travel, from aircraft manufacturers to airlines to hotels, is affected. Unfortunately with banks resistant to any-risk loans, consumer confidence hitting a record low and interest-only loans coming due, we will be seeing more job losses in 2009.
Bay Area resident and award-winning business journalist Barbara E. Hernandez has covered tourism, real estate and personal finance. Her clients include the New York Times, Los Angeles Times, San Francisco Chronicle and Washington Post.
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