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21.02.2024 - 02:22 / skift.com / Dennis Schaal / Francis Davidson
Short-term rental and hotel operator Sonder announced that it would lay off 106 corporate employees, or 17% of that workforce, as it moved to reduce overhead costs and deal with underperforming properties.
The layoffs, which the company announced publicly Tuesday, will be completed by March 31, Sonder said.
In a financial filing, Sonder said it would incur costs related to the layoffs but that they would lead to $11 million in annual savings.
“Total costs and cash expenditures for the reduction in force are estimated at $2 million to $3 million, substantially all of which are related to employee severance and benefits costs and will be recognized in the first quarter of 2024,” Sonder said. “The Company expects to pay the majority of these reduction in force amounts in the first quarter of 2024.”
In the company’s third-quarter earnings call in November, co-founder and CEO Francis Davidson said the company was working with external advisors to right-size its portfolio given the burden of underperforming leases, some of which have negative profit margins.
In March 2023, Sonder laid off about 100 corporate employees or around 14% of its corporate workforce.
In June 2022, Sonder fired some 21% of corporate roles and 7% of frontline roles, including Sonder’s chief technology officer.
Sonder was founded in 2014 and has never been profitable. The San Francisco-based company is trying to get to a point where it can generate positive free cash flow.
Sonder has yet to schedule its fourth quarter and full-year 2023 earnings announcement.
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Jumeirah Group has appointed a chief brand officer to “spearhead the evolution of the brand,” the luxury Dubai hotel chain said Thursday.
JetBlue has launched its limited-time Big Spring Sale featuring $25 off one-way flights of at least $50 and $50 off roundtrip flights of at least $100.The two-day sale runs through midnight Wednesday, March 6 and is good for travel between Tuesday, March 19 and Wednesday, June 12, 2024.Travelers can use promo code SPRINGTRAVEL at checkout to take advantage of the discounted seats.Terms and conditions apply, however. The sale does not include Friday or Sunday travel, minimum spend does not include taxes and fees and the discounts are valid on nonstop flights only.You can contact your travel advisor or visit JetBlue's Best Fare Finder Tool to browse the latest offers.
A trio of passengers who were onboard the Alaska Airlines flight that lost a door plug after take-off are suing plane manufacturer Boeing for negligence.The $1 billion lawsuit was filed on February 20 in Multnomah County, Oregon, according to a press release issued by the passenger’s lawyers. The plaintiffs are Kyle Rinker, Amanda Strickland, and Kevin Kwok.Rinker, Strickland, and Kwok are seeking both compensatory and punitive damages from Boeing, which manufactures the 737 MAX 9 jet that was involved in the incident."As a direct result of the frightful, death-threatening failure of the Boeing aircraft, Mr. Kwok, Mr.
Malaysia may renew the search for MH370, a decade after the flight disappeared
JetBlue Airways and Spirit Airlines announced on Monday that they would walk away from their planned $3.8 billion merger after federal antitrust regulators successfully challenged the deal in court. JetBlue said it would pay Spirit $69 million to exit the deal.
Thailand is renowned among hard-charging tourists for nightlife in Bangkok, full moon parties on Koh Phangan island and hedonistic walking streets in Pattaya. It’s also a magnet for the bohemian and wellness crowds who flock to the mountain destinations of Chiang Mai and Pai.
Adventure Europe will take place 25th September 2024 online.
ALTOUR will be the first Atriis client to go live in March. The content will become widely available to all Atriis users during Q2 2024.
Building and bridging cultures brought to life through new session formats, destination partnerships, and much more
Travelers will have access to the travel insurance industry’s first offering that protects all connected devices including smartphones, tablets and laptops.
Malaysia is pushing for a renewed search for Malaysia Airlines Flight MH370, the transport minister said on Sunday, as the 10th anniversary of its disappearance in one of the world’s greatest aviation mysteries approaches.