Money

Travel Industry Layoffs

By Barbara Hernandez

Updated on: January 29, 2009 / 1:08 PM EST / MoneyWatch

Lately it seems as if no one can read about business without seeing stories about layoffs and downsizing. The travel industry, seriously affected by lessening consumer confidence and the economy, is seeing its share of job losses. In the latest news:

Boeing will lay off 10,000 workers after a disappointing fourth quarter
Westin and Sheraton Grand Bahama Our Lucaya Resort lays off 181 workers, or 18 percent of its staff
United Airlines will cut 1,000 jobs in 2009
American AIrlines to lay off 170 in Kansas City
San Jose International Airport to lay off 100 workers in San Jose, Calif.
Interstate Hotels & Resorts cut 45 corporate positions and slashed senior management pay by 10 percent
UPS plans to lay off 60 aircraft mechanics
Revel Entertainment lays off 400 in Atlantic City

Every aspect of travel, from aircraft manufacturers to airlines to hotels, is affected. Unfortunately with banks resistant to any-risk loans, consumer confidence hitting a record low and interest-only loans coming due, we will be seeing more job losses in 2009.