The travel industry in India is going through a kind of phase never seen before. Nothing has hit us so badly since 9/11...and this downturn is by far worse than that one. Bookings are down, scores of cancellations have come in from every market, programs are being re-priced at wafer-thin margins or even nett cost, just to bring in some numbers. The world changed this year, and may never be the same again. I know scores of people who lost their jobs in this industry, and rumours of pay-cuts and downsizing have been flying around for some time now.
So when the boss announced that for the moment there are no job or pay cuts happening, everybody heaved a sigh of relief. Safe for now.
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