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Latest Business News

Companies Curtailing Travel Budgets

Sunday, February 24, 2008 2:02:50 PM
By ADAM SCHRECK and JOHN WILEN

NEW YORK (AP) - As the economy cools, companies are starting to shrink their travel budgets — a move likely to put further strain on struggling airlines.

Hotels, car-rental agencies and restaurants, which along with airlines employ roughly 4 percent of U.S. workers, will also feel the pinch.

So far, travel bookings are holding up. But corporate travel managers are taking a more active role in keeping on-the-road spending in check:


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