TUI is cutting staff working hours and pay between 30 and 50 per cent amid the coronavirus pandemic.
The tour operator added that while there are to be no redundancies, the new measures are to "ensure cash is preserved, costs are controlled, and the future of our business is protected".
⚠️ Read our coronavirus live blog for the latest news & updates
TUI has already suspended all of their holiday packages and cruises, as countries around the world close their borders and enforce new travel restrictions.
They announced in a statement: "Due to the unique circumstances we are facing as a business we are introducing measures to ensure cash is preserved, costs are controlled, and the future of our business is protected."
Staff who are required to work will get a 30 per cent pay cut, while staff who work less than 50 per cent or not at all will get a 50 per cent pay cut.
They added: "There will be no redundancies (voluntary or otherwise), other than already planned activity in retail and seasonal Cabin Crew who were recruited ready for our summer season who are unfortunately no longer required."
The new measures will be implemented from April 1, and reduced on a monthly basis.
Source: Read Full Article