Feeds

Axe falls on Ebookers jobs

'Significant' restructuring programme

  • alert
  • submit to reddit

Choosing a cloud hosting partner with confidence

Ebookers - the online travel outfit - is to cut jobs as part of a "significant" restructuring programme to cut overheads.

Staff are being told of the plans today, although the full extent of the job cuts will not be made public until May when the company reports its next round of financials.

As part of the restructuring, Ebookers is to standardise its website and systems technologies and dispose of nine retail outlets.

It also plans to remove "duplicate functions and delayer management following our reorganised business structure" and to cut staff as the operation strives to make its business more efficient.

In a statement Ebookers said: "We are announcing a reorganisation and cost restructuring of the company following the installation of new technologies and successful internet conversion of offline acquisitions to the internet. This includes some reduction in headcount."

News of the "significant cost reduction programme" coincided with the publication of financial results for 2003. Although turnover was up 109 per cent to £67m from £32m in 2002 the company also increased pre-tax losses from £12.3m to £14.9m.

Chairman Dinesh Dhamija remained upbeat insisting that 2003 ended strongly despite being a tough year hit by the Iraq war, the SARS epidemic and a very hot European summer persuading would-be long-haul travellers to stay at home.

"Said Mr Dhamija: "The success of our internet strategy means that we can announce today a significant cost reduction programme that will further improve the efficiency of the company. We look forward to continued strong growth for the year."

In a separate announcement Ebookers announced plans to raise $200m (£108m) in the US to fund further expansion of the company. ®

Related Stories

Ebookers chief defends offshoring
ebookers looks to India for cost savings

Remote control for virtualized desktops

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
UK.gov pushes for SWIFT ACTION against nuisance calls, threatens £500k fines
DCMS seeks lowering of legal threshold to fight rogue firms
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
Hungary's internet tax cannot be allowed to set a precedent, says EC
More protests planned against giga-tariff for Tuesday evening
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
How to simplify SSL certificate management
Simple steps to take control of SSL certificates across the enterprise, and recommendations centralizing certificate management throughout their lifecycle.