Orbitz cuts staff, braces for downturn
Orbitz, the Web travel agency backed by a group of top U.S. airlines, laid off 17 employees, or about 10 percent of its work force, Chief Executive Jeffrey Katz said. The terrorist attacks have caused a slowdown in air travel, and although Chicago-based Orbitz has enough cash to outlast an extended sales slump, Katz said, the company is forecasting the downturn could last for "an extended time." Cost reductions were "prudent," he said.
Greg Sandoval Former Staff writer
Greg Sandoval covers media and digital entertainment for CNET News. Based in New York, Sandoval is a former reporter for The Washington Post and the Los Angeles Times. E-mail Greg, or follow him on Twitter at @sandoCNET.
Orbitz, the Web travel agency backed by a group of top U.S. airlines, laid off 17 employees, or about 10 percent of its work force, Chief Executive Jeffrey Katz said. The terrorist attacks have caused a slowdown in air travel, and although Chicago-based Orbitz has enough cash to outlast an extended sales slump, Katz said, the company is forecasting the downturn could last for "an extended time." Cost reductions were "prudent," he said.