Holiday Extras is cutting 330 jobs, including 250 roles at its head office in Kent, in response to the impact of the Covid-19 pandemic.
The add-ons provider said the move was the “first stage of a two-year recovery plan”, as “part of a series of forthcoming initiatives” to “ensure a successful and exciting future for its customers, partners and team”.
It is hoping to extend its debt facility, and said the government’s furlough scheme allowed it to save more jobs than would have otherwise been the case
In a statement, the company said: “Like so many companies in the travel and leisure sectors, Holiday Extras has seen a significant impact on the business due to the Covid-19 pandemic.
“With lower than expected demand and capacity in the market over the coming year the company is expecting reduced revenues. The company has started the first stage of a two-year recovery plan, beginning with a restructure that will affect all parts of the group. The company has taken the difficult decision to reduce the size of its team by approximately 330 people, including 250 roles at its Kent head office and approximately another 80 roles around the group business.
“This is a significant step in planning to secure the business’s future, and will be part of the package of measures Holiday Extras is implementing to mitigate the impact of the pandemic, including adoption of the government’s furlough scheme. In addition, and as part of the plan, the organisation is also in the final stages of securing a government backed extension to its current debt facility.”
Matthew Pack, group chief executive of Holiday Extras, added: “Holiday Extras has been in my family for 37 years. Alongside my leadership team, we have worked continuously over the course of the pandemic to ensure that we will come through this downturn. Unfortunately, today we’ve had to take this very difficult decision to safeguard the future of the business for our customers and remaining employees.
“Our teams and culture are so important to our success and we’re committed to keeping Holiday Extras a great place to work. We’ve left no stone unturned in making these extremely tough choices, but we believe we’ve remained true to our values which we will protect for the long-term for our remaining team members, customers and partners alike.”
Holiday Extras’ leadership has undertaken training on how to “provide the best counsel possible” for employees going through the redundancy process. It has also created a help website for affected employees with training courses and answers to frequently asked questions. A separate site offering training and advice on things such as CVs will also be provided.
The company said it will continue to focus on innovation across digital marketing, distribution and service “to provide a hassle-free experience for its customers and employees”.
More initiatives in the two-year recovery plan will be announced at a later stage.
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