Travel retail platform Travelport
has laid off an undisclosed number of employees in its commercial organization.
A
company spokesperson said the reduction is across all regions but it is not a
company-wide initiative and “it did not affect a material number of employees
(percentage wise).”
“Travelport
is focused on driving revenue growth while operating as efficiently and
effectively as possible,” said Katie Cline, Travelport’s global head of
external communications in an email.
“As
such, we’re always reviewing our organizational structure to ensure we’re as
agile as possible. Now that we have successfully launched
Travelport+ and upgraded the majority of our customers to the new platform,
these changes will allow us to create and respond to innovation opportunities
with even greater speed than our competitors.”
In
January Travelport completed an equity financing transaction of $570
million that was initially announced in December.
In
recent months the company has announced new and renewed NDC content agreements
with airlines including Qatar, Iberia, Etihad and Virgin Atlantic.
Travelport returned to private ownership
in late 2018 following
a $4.4 billion takeover by Elliott Management Corp. and others. The company had
been listed on the New York Stock Exchange for almost four years and was valued
at approximately $1.9 billion when it went public.
