workforce reduction

Mass.-Based TripAdvisor to Cut 900 Jobs, Close Boston Office

The roughly 25% workforce reduction is a financial result of the COVID-19 pandemic, according to CEO Steve Kaufer

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TripAdvisor is the latest company to significantly reduce its staff amid the coronavirus pandemic.

Steve Kaufer, TripAdvisor's CEO and co-founder, announced Tuesday that the travel search company would cut 900 jobs globally — about 25% of the company's total workforce.

The company is closing its Boston and San Francisco offices permanently but will allow remaining Boston employees to work remotely or out of the Needham, Massachusetts, headquarters, according to Kauffer.

In a message to employees on the TripAdvisor site, Kaufer acknowledged that the COVID-19 pandemic was having an impact on the business.

"Since mid-to-late February, COVID's impact on the travel industry and our business has slowly revealed itself day by day. The pandemic has had an impact on the economy that no one expected. Our personal and professional lives have changed in profound ways," Kaufer said in the statement.

In a separate statement, Kaufer said he wanted to make a public announcement because "there will be hundreds of amazing people looking for work in the U.S. and abroad."

"Our wish is you will consider them for open roles at your company," Kaufer said.

Massachusetts General Hospital's coronavirus simulator estimates the sooner restrictions are pulled back, more coronavirus-related deaths will ensue.

Prior to the cuts, TripAdvisor had about 4,200 employees, according to corporate filings obtained by CNBC. The company had already laid off 200 people in January.

Kauffer said he will forego his salary for the rest of the year as part of a cost-saving measure.

Other measures include asking most salaried employees to temporarily move to a four-day work week and take a 20% cut in base salary for three months beginning in June.

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