Apr 28, 2020 - Economy & Business

TripAdvisor cuts 25% of its workforce amid coronavirus pandemic

Photo Illustration: Budrul Chukrut/SOPA Images/LightRocket via Getty Images

Online travel booking site TripAdvisor confirmed Tuesday that it is eliminating 900 jobs, or around 25% of its workforce, as the coronavirus pandemic wreaks havoc on the hotel and airline industries.

The state of play: Co-founder and CEO Steve Kaufer, who is no longer taking a 2020 salary, said in a statement that the company "had hoped cutting discretionary expenses and furloughs would be enough, but as the pandemic worsened, it became clear that the company needed to take additional cost saving measures."

Go deeper

Felix Salmon

1 hour ago - Economy & Business

Unpacking a surprise jobs report

Illustration: Rebecca Zisser/Axios

Can we trust this morning's surprisingly good employment report?

The short answer: Yes.

Go deeper (1 min. read)

Ben Geman

2 hours ago - Energy & Environment

The emergency era of environmental policy

Illustration: Aïda Amer/Axios

Welcome to the crisis era of energy and environmental policymaking.

Driving the news: A new White House executive order, citing COVID-19, invokes emergency powers to accelerate and even waive some environmental reviews of infrastructure and energy projects.

Go deeper (2 min. read)

Kia Kokalitcheva

2 hours ago - Economy & Business

HBCUs are missing from the discussion on venture capital's diversity

Illustration: Eniola Odetunde/Axios

Venture capital is beginning a belated conversation about its dearth of black investors and support of black founders, but hasn't yet turned its attention to the trivial participation of historically black colleges and universities (HBCUs) as limited partners in funds.

Why it matters: This increases educational and economic inequality, as the vast majority of VC profits go to limited partners.

Go deeper (1 min. read)