Budget Travel to axe 95 jobs as business falls 40%

TOUR operator Budget Travel is set to axe 95 jobs and almost half of its Irish stores by October as part of a “restructuring” process caused by a 40% drop in customers.

In the latest indication of Ireland’s growing unemployment crisis, the company told 266 workers that the cutbacks are unavoidable due to the significant drop in demand for package holidays.

Speaking after the start of a 30-day consultation process with staff, Budget Travel managing director Eugene Corcoran said up to 14 of the company’s 31 retail stores across Ireland are set to be closed within the next three months.