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LastMinuteTravel.com lays off 60 percent

LastMinuteTravel.com has laid off about 60 percent of its 40 person staff, said the company's chief executive, David Miranda. The Atlanta, Ga.-based company, which collects and displays last-minute travel fares on its site, has been hurt by the slumping travel market, as have most online travel companies. Travel sites Orbitz, Hotwire and Travelocity.com have trimmed staffing since the Sept. 11 attacks. Web travel agency Biztravel shut down in September. Even before the attacks, the travel industry was slowing as corporations reined in their travel spending. Since Sept. 11, airlines hurriedly cut back the number of flights and advertising costs. Hotels and rental car companies also scaled back.

LastMinuteTravel.com has laid off about 60 percent of its 40 person staff, said the company's chief executive, David Miranda. The Atlanta, Ga.-based company, which collects and displays last-minute travel fares on its site, has been hurt by the slumping travel market, as have most online travel companies. Travel sites Orbitz, Hotwire and Travelocity.com have trimmed staffing since the Sept. 11 attacks. Web travel agency Biztravel shut down in September.

Even before the attacks, the travel industry was slowing as corporations reined in their travel spending. Since Sept. 11, airlines hurriedly cut back the number of flights and advertising costs. Hotels and rental car companies also scaled back.