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Tui to Permanently Cut Overhead Costs, Potentially Affecting 8,000 Jobs

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Tui Group will permanently cut its companywide overhead costs by 30% after the coronavirus pandemic, potentially affecting up to 8,000 jobs worldwide. The move follows first-half 2020 losses of €845.8m versus €289.1m a year earlier and faster rollout of its asset right strategy. Tui also canceled all beach holidays and cruises up to June and postponed its river cruise brand launch until November.

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