The Flight Centre Travel Group (ASX:FLT) to stand down 6,000 workers

Company News

by Rachael Jones

The Flight Centre Travel Group (ASX:FLT) is to stand down around 6,000 support and sales roles either temporarily or permanently, including 3,800 people in Australia.

They have a three-pronged plan in place to tackle a prolonged downturn in demand brought about by the unprecedented restrictions that governments globally have imposed recently on domestic and international travel.

This has been reflected in Flight Centre’s total transaction value (TTV) is tracking at 20-30 per cent of normal levels globally this month.

Based on these heightened restrictions, further TTV declines are likely in the coming weeks.

Shares in the Flight Centre Travel Group (ASX:FLT) last traded at $9.91.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.