Connect with us

Tech

TripActions reportedly lays off hundreds amid COVID-19 travel freeze

Published

on

TripActions reportedly lays off hundreds amid COVID-19 travel freeze

The coronavirus demand crunch has taken one other chew: Palo Alto-based company travel-focused unicorn, TripActions, reportedly laid off tons of of employees yesterday.

Per this put up on Blind — written by somebody with a verified TripActions e mail tackle — the corporate fired 350 individuals. Business Insider reported the identical determine yesterday. While the Wall Street Journal stated the layoffs quantity to between one-quarter to one-fifth of the startup’s whole employees, citing an individual aware of the scenario.

In an e mail to CrunchBase News TripActions confirmed it has axed jobs in response to the COVID-19 world well being disaster — saying it has “in the reduction of on all non-essential spend”. Although it didn’t verify precisely what number of staff it has fired.

“[We] made the very troublesome determination to cut back our world workforce according to the present local weather,” TripActions wrote within the assertion. “We stay up for when the energy of the worldwide financial system and enterprise journey inevitably return and we will rent again our colleagues to rejoin us in our mission to make enterprise journey easy for our prospects and customers.”

“This world well being disaster is not like something we’ve ever seen in our lifetimes, and our hearts exit to everybody impacted all over the world, together with our personal prospects, companions, suppliers and staff,” it added. “The coronavirus has had [a] wide-reaching impact on the worldwide financial system. Every enterprise has been impacted together with TripActions. While we have been lucky to have lately raised funding and secured debt financing, we’re taking applicable steps in our enterprise to make sure we’re right here for our prospects and their vacationers lengthy into the longer term.”

Per the put up on Blind, TripActions is offering one week of severance to sacked employees and medical cowl till finish of month. “With [the coronavirus pandemic] occurring you suppose they’d do higher,” the OP wrote. The layoffs have been made by Zoom name, in addition they stated.

We’ve reached out to TripActions for remark.

Travel startups are dealing with an unprecedented nuclear winter as demand has fallen off a cliff globally — with little prospect of a considerable change to the freeze on most enterprise journey within the coming months as charges of COVID-19 infections proceed to develop exponentially exterior China.

However TripActions is among the highest valued and greatest financed of such startups — securing a $500M credit score facility for a brand new company product solely final month, once we famous Crunchbase had greater than $480M in tracked fairness funding for the corporate, together with a $250M Series D TripActions raised in June from traders together with a16z, Group 11, Lightspeed and Zeev Ventures.

Ahead of creating the layoffs the corporate had already paused all hiring, per one former technical sourcer for the corporate writing on LinkedIn.

Three journey startups inform us how they’re responding to the coronavirus disaster

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

XOTIX Latest Video

Analyst lowers Expedia profitability estimates again as questions swirl about future of travel
Tech8 mins ago

Analyst lowers Expedia profitability estimates again as questions swirl about future of travel

Seahorse: The Dad Who Gave Birth
Entertainment36 mins ago

Official Trailer for 'Seahorse: The Dad Who Gave Birth' Documentary

Xerox drops $34B HP takeover bid amid COVID-19 uncertainty
Tech2 hours ago

Xerox drops $34B HP takeover bid amid COVID-19 uncertainty

iPhone 9 release date
Tech2 hours ago

iPhone 9 seemingly confirmed by new iOS 13.4.5 beta release

Spike Lee
Entertainment3 hours ago

The Spike Lee Movies That Never Happened

OrbitFab secures National Science Foundation funding to propel its satellite refueling tech to space
Start-Ups4 hours ago

OrbitFab secures National Science Foundation funding to propel its satellite refueling tech to space

Oscar
Entertainment5 hours ago

Watch: A Man & Dog Head to the Woods in 'Oscar's Bell' Horror Short

FCC mandates strict caller ID authentication to beat back robocalls
Tech5 hours ago

FCC mandates strict caller ID authentication to beat back robocalls

Pet care startup Rover lays off 41% of workforce due to COVID-19 impact
Tech5 hours ago

Pet care startup Rover lays off 41% of workforce due to COVID-19 impact

dark sky apple
Tech5 hours ago

Apple buys Dark Sky, the incredibly popular hyperlocal weather app

Gyser Nightmare On Elm Street
Entertainment7 hours ago

The Coolest Effect in ‘A Nightmare on Elm Street’ Was a Bloody Accident

Color is launching a high-capacity COVID-19 testing lab and will open-source its design and protocols
Tech8 hours ago

Color is launching a high-capacity COVID-19 testing lab and will open-source its design and protocols

iPhone 9 Plus Price
Tech8 hours ago

It looks like Apple is about to launch the iPhone 9

Peter Hollens epic handwashing interview (1)
Entertainment9 hours ago

YouTube Star’s ‘Epic Hand Washing Parody’ Goes Viral

Leiden-based pharma firm developing vaccine against COVID-19: Gets $1B funding from US, Johnson & Johnson
Start-Ups9 hours ago

Leiden-based pharma firm developing vaccine against COVID-19: Gets $1B funding from US, Johnson & Johnson

Washington governor avoids ‘shelter in place’ rule, but warns citizens they’re not doing enough
Tech10 hours ago

Businesses in Washington state that don’t comply with ‘stay home’ order could have licenses revoked

To the Stars Trailer
Entertainment11 hours ago

Official Trailer for 'To the Stars' Starring Kara Hayward & Liana Liberato

Xage adds full-stack data protection to blockchain security platform
Tech11 hours ago

Xage adds full-stack data protection to blockchain security platform

iPhone 12 Release Date
Tech11 hours ago

This stunning iPhone 12 Pro design might blow your mind

Tigerland
Entertainment13 hours ago

Watch ‘Tiger King,’ Then Watch These Movies

Tech1 week ago

Popular apps, websites for children to learn – Even enjoy – While under Coronavirus Lockdown

Donald Trump Hints At Ending Social Distancing Policies After 15-Day Period In New Tweets, Press Conference
Entertainment1 week ago

Donald Trump Hints At Ending Social Distancing Policies After 15-Day Period In New Tweets, Press Conference

Working from home can make people more productive. Just not during a pandemic.
Tech1 week ago

Working from home can make people more productive. Just not during a pandemic.

Dr. Pimple Popper Goes Too Far For Some Fans With Blackhead Rice Krispie Treats Baking Video!
Entertainment1 week ago

Dr. Pimple Popper Goes Too Far For Some Fans With Blackhead Rice Krispie Treats Baking Video!

How not to be a jerk while ordering groceries during a pandemic
Tech1 week ago

How not to be a jerk while ordering groceries during a pandemic

Jennifer Lopez’s High School Sweetheart Dead At 51
Entertainment1 week ago

Jennifer Lopez’s High School Sweetheart Dead At 51

Monitoring is critical to successful AI
Tech1 week ago

Monitoring is critical to successful AI

Feeling anxious about coronavirus? There’s an app for that.
Tech1 week ago

Feeling anxious about coronavirus? There’s an app for that.

Global Savings Group acquires French cashback company iGraal for €123.5M
Start-Ups1 week ago

Global Savings Group acquires French cashback company iGraal for €123.5M

Updated FDA COVID-19 testing guidelines specifically disallow at-home sample collection
Start-Ups1 week ago

Updated FDA COVID-19 testing guidelines specifically disallow at-home sample collection

Former Slack exec April Underwood has joined Obvious Ventures as a venture partner
Tech1 week ago

Former Slack exec April Underwood has joined Obvious Ventures as a venture partner

Join our conference call with immigration attorney Sophie Alcorn Tuesday at 1pm PDT
Tech1 week ago

Join our conference call with immigration attorney Sophie Alcorn Tuesday at 1pm PDT

Enable raises $13M to help distributors, manufacturers and retailers manage rebates
Start-Ups1 week ago

Enable raises $13M to help distributors, manufacturers and retailers manage rebates

Ruthie Ann Miles Announces Pregnancy Two Years After Loss Of Daughter & Unborn Child
Entertainment1 week ago

Ruthie Ann Miles Announces Pregnancy Two Years After Loss Of Daughter & Unborn Child

Inside Planet 13, the world’s largest cannabis dispensary
Start-Ups1 week ago

Inside Planet 13, the world’s largest cannabis dispensary

miley cyrus cody simpson date night
Entertainment1 week ago

Miley Cyrus Opens Up To Hailey Bieber About Her Relationship With Religion: ‘I’ve Had A Hard Time’

Kinsa’s fever map could show just how crucial it is to stay home to stop COVID-19 spread
Start-Ups1 week ago

Kinsa’s fever map could show just how crucial it is to stay home to stop COVID-19 spread

Taylor Swift Breaks Silence On The Kimye Tape Truth Coming Out!
Entertainment1 week ago

Taylor Swift Breaks Silence On The Kimye Tape Truth Coming Out!

A little-known Silicon Valley psychiatrist has become one of the Democratic Party’s most powerful donors
Tech1 week ago

A little-known Silicon Valley psychiatrist has become one of the Democratic Party’s most powerful donors

‘America needs our help’: Q&A with OfferUp CEO Nick Huzar after Seattle-area startup lands $120M
Tech6 days ago

‘America needs our help’: Q&A with OfferUp CEO Nick Huzar after Seattle-area startup lands $120M

Trending