Online travel agency lastminute.com to slash 25% of its jobs in AI transition

FRANKFURT - Online travel agency lastminute.com LMN.S on Wednesday said it would cut a quarter of its jobs in a push to integrate AI into its operations, in the latest sign of AI adoption shaking up the labor market.

"AI adoption in the travel industry has been fast and will only accelerate: AI is changing how customers search, book, and are served, and how the companies behind them are built," said CEO Alessandro Petazzi.

The restructuring should be concluded around the end of this year, resulting in annualized cost savings of about €16 million in 2027 ($18.58 million), Switzerland-listed lastminute.com said in a statement.

The group plans to invest in AI within customer-facing applications and in optimising its data infrastructure

($1 = 0.8613 euros)

-Reporting by Ludwig Burger, Editing by Miranda Murray/Reuters