Tourism giant TUI to transfer 150 jobs to India

26th April 2005, Comments 0 comments

26 April 2005, HANOVER - Tourism concern TUI confirmed reports on Tuesday that as part of its cost-cutting efforts it is to transfer 150 computer programming jobs to India.

26 April 2005

HANOVER - Tourism concern TUI confirmed reports on Tuesday that as part of its cost-cutting efforts it is to transfer 150 computer programming jobs to India.

A spokesman confirmed a report in the business magazine Capital in which TUI chief executive Michael Frenzel was cited about his company's cost-savings efforts aimed at slashing expenses by EUR 100 million by 2006.

Frenzel also told the magazine of the plans of Europe's largest tourism group to build up Internet-based business. From the current 20 percent of turnover, by the year 2008 up to 40 percent of tourism sales are to be conducted via the Internet, he said.

TUI posted a turnover of EUR 18 billion last year, up 6.1 percent from 2003. The group surplus came to EUR 532 million.

The company's plans to shift jobs to India comes amid rising controversy in German about firms slashing payrolls at home, adding to the country's unemployment problems.

DPA

Subject: German news

0 Comments To This Article