Despegar.com implementing a hiring freeze

Despegar.com provides business update.despegar.com corp - as of december 31, 2019, company had us$313 million in cash and us$180 million in credit card receivables.despegar.com corp - reducing salaries of executive committee, board directors, and senior management by 50%.despegar.com corp - reducing salaries of middle management by 25% throughout q2.despegar.com corp - implementing a hiring freeze and limiting inflation salary increases.despegar.com corp - deferring non-critical capital expenditures.despegar.com corp - measures taken in q4 & those taken in response to covid-19 expected to result in annualized cost savings of about $90 million.despegar.com - has been reducing all non-critical spend,re-adjusting structural costs to deliver additional 35% yoy savings by end of 3q'20.despegar.com corp - eliminating h1 2020 bonuses to all employees.
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