TUI Group to cut 8,000 jobs due to pandemic impact

Travel firm TUI has warned that up to 8,000 jobs will go as it seeks to cut costs by 30% because of the pandemic. The Germany-headquartered group said turnover would decline significantly in the financial year, with cost savings only partly compensating for the virus-induced downturn. On Wednesday, TUI posted losses of €845.8m in the first half of 2020, compared to €289.1m in the previous year.