Iglu has begun a consultation with staff as part of a restructure of the business as it hopes to rebound from the pandemic stronger.
The UK’s largest cruise and ski specialist agency, which currently employs 400 people, is looking to cut its costs by 40-50% as it battles the impact of Covid-19 on its core business.
The UK government has imposed a blanket ban against ocean cruise travel.
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Chief executive Richard Downs has written to staff to inform them roles across the business are at risk and said “all avenues” were explored to retain jobs.
He said: “Iglu.com has begun a consultation process with staff as part of a full strategic review to reshape the business, with the goal of emerging from the pandemic stronger and poised to grow again when demand returns.
“The unprecedented circumstances of the last few months have been the most challenging period in the 22 years since Iglu.com launched, as it has been for so many businesses in the travel industry. I cannot thank our team enough for their dedication, support and resilience, in such difficult circumstances.
“The success enjoyed at Iglu.com has been driven by the people who work here, so it is with great regret that it has become necessary to restructure the business. We are proposing to reduce our operating costs by 40-50% to be a more appropriate size for the current trading environment. We are doing this as a short-term measure so that we can emerge stronger and return to growth when cruisers and skiers are able to travel again.
“We have investigated all avenues in order to retain jobs but as cruising drives the majority of our revenue, and with the pause of cruise operations ongoing, this has become necessary.
“We have organised external support for staff whose roles are made redundant after the consultation period, we will do all we can to help them showcase the great skills and experience we know they have to offer.”
The number of redundancies will be confirmed at the end of the consultation, the company said.