About: http://data.cimple.eu/news-article/12f36b8335e3a10ac7b29078a5785d99deac2291d7a966b99b72b479

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About: http://data.cimple.eu/news-article/12f36b8335e3a10ac7b29078a5785d99deac2291d7a966b99b72b479 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Travelex, the currency exchange group, has axed more than 1,300 jobs in the UK, blaming the move on the financial fallout from the coronavirus pandemic and a cyber attack. Financial company PwC, brought in by Travelex to advise on how to remain afloat, said late Thursday that a restructuring deal had been struck to provide £84 million ($108 million, 92 million euros) in fresh funds. "Unfortunately, as the majority of the UK retail business is no longer able to continue trading, it has regrettably resulted in 1,309 UK employees being made redundant," said Toby Banfield, one of three PwC administrators overseeing the case. "The impact of a cyber attack in December 2019 and the ongoing COVID-19 pandemic this year has acutely impacted the business," PwC added in a statement. However Travelex has managed to maintain 1,802 jobs in the UK and a further 3,635 positions abroad. Prior to the coronavirus outbreak, Travelex was hit hard by a cyber attack on New Year's Eve. The hack resulted in its systems not working for weeks, costing the group heavily. Meanwhile with a strong presence in airports around the world, Travelex has suffered further losses as the bulk of planes remain grounded by the virus outbreak. bcp/bmm
schema:headline	Travel money group Travelex cuts 1,300 UK jobs
schema:mentions	PricewaterhouseCoopers 2009 flu pandemic Cyberattack Eve Currency Virus United Kingdom Severe acute respiratory syndrome coronavirus 2 Coronavirus disease 2019 Banfield Pet Hospital Travelex
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-08-07 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	80 (xsd:integer)
http://data.cimple...tology#hasEmotion	sadness

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