TUI to Cut Jobs and Costs as It Prepares for July Holiday Restart

Travel group TUI will cut 8,000 jobs and look to shed 30 percent of its costs as it gears up for a July restart to European tourism.

A TUI Boeing 737-800 plane takes off from the airport in Palma de Mallorca, Spain, on July 29, 2018. Paul Hanna/File Photo/Reuters

LONDON—Travel group TUI will cut 8,000 jobs and look to shed 30 percent of its costs as it gears up for a July restart to European tourism, the German company said on Wednesday.

Holiday plans have been put on hold in the face of travel restrictions aimed at halting the spread of the CCP (Chinese Communist Party) virus, with British government ministers warning that summer trips to overseas tourist destinations are unlikely to happen this year.