What Will Global Travel Manager CWT Do With $250 Million in New Capital? Get Smaller, For One
Photo Credit: Travel management company CWT has restructured into three operating divisions. Unsplash / Gemma Evans
Skift Take
From the outside, it seems the travel management company has gone into survival mode. Post-Covid, it will look a lot leaner, and more attractive to potential buyers.
Big changes are happening at the top of travel management company CWT, which has now restructured its operating divisions, weeks after raising new capital.
The Minneapolis-based company last week announced it had created three new global operating units: RoomIt and commercial; traveler experience and customer; and strategy and transformation.
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CWT said the new structure was aimed to accelerate innovation, transformation and growth. But against the backdrop of a pandemic, it also means downsizing. "Given the need to realign resourcing in today’s market conditions but also to protect employees, operating costs have been managed mainly through temporary furloughs and pay reductions, and more recently also through voluntary programs offered by the company that have received strong interest from employees globally," the company said in a statement. Skift approached CWT for mo
