TripAdvisor, a Needham-based company, announced 900 layoffs Tuesday. The company, like many in the hospitality industry, has been hard hit by the coronavirus pandemic. The company confirmed it would lay off 25 percent of its global workforce, including more than 600 employees in the U.S. and Canada.
TripAdvisor said employees who are being laid off will receive transition packages, including severance pay and outplacement support. In the United States and Canada, laid-off employees will receive health insurance continuation for a period of time, according to the company.
TripAdvisor announced it will also implement cost-saving measures that include permanently closing the downtown Boston office and the San Fransisco office in addition. The closures are part of a three-phase plan to “navigate near-term challenges and position our business for recovery,” according to the company.
The company said that in most markets, salaried employees for TripAdvisor will be asked to move to a four-day work week and take a corresponding 20 percent reduction in base salary, for three months starting in June. The 401K match program in the U.S. will be paused for that time period, the company said.
