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Thread: Poll: How Does the Financial Crisis Affect Your Travel Plan?
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[quote=BITTERSWEET,329791]Travel industry will be affected during the next 2-3 years at least. Global economy is down sizing. Pension liability and the interest expense and future lump sum payout of other long term debt burn will continue put corp. operation at high risk even if short term liquidity is relieved. Hence There is going to be subsequent restructuring programms - job cuts. because the cost of restructuring programs like termination fees and severance fees can wipe off huge future pernsion liability on their book. It's a cruel reality and general public discretionary spending like travel will be cut as a result![/quote]
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