After a pandemic rescue agreement resulted in the elimination of 1,300 jobs, Travelex has announced plans to hire more than 1,000 employees in the United Kingdom.
Following a bleak year in which it was subjected to a cyberattack and then infected with coronavirus, the corporation says it is optimistic about the future.
The company announced on Tuesday that it is employing across its retail, wholesale, and head office divisions as a result of new contract wins and a rebound in the UK travel market following the removal of COVID limitations.
It referenced the recent introduction of bureaux de change and ATMs at Stansted and East Midlands airports.
Travelex stated that it has also been awarded contracts for a total of eleven outlets and thirty-four automated teller machines (ATMs) at Edinburgh, Glasgow, Aberdeen, and Belfast International airports, as well as renewing agreements with two major grocery chains.
The company stated it was also seeking approximately 200 new employees worldwide.
It voiced confidence in the planned hiring drive despite a tight labor market in the aviation industry, which has made it difficult for airlines and airports to find enough workers to fulfill customer demand.
The hiring binge, however, signifies a significant turnaround in Travelex’s fortunes following a bleak 2020 in which the company suffered a ransomware assault and subsequently succumbed to the pandemic.
As a result of its liquidity crisis, Travelex assets were sold to bondholders in August of that year in a so-called pre-packaged deal.
However, 1,300 of its more than 3,000 employees were laid off as a result of the bailout.
Donald Muir, CEO of Travelex, stated: “This is an extremely exciting time for Travelex, with the creation of more than 1,200 worldwide positions, more than twenty new contract wins and renewals (with more to come), and the imminent arrival of a new CEO with extensive digital expertise.
“I would like to congratulate every member of the Travelex team, who have all worked to stabilize the company and subsequently propel it ahead in the face of unprecedented market conditions over the past few years.
“Since the pandemic has lowered obstacles to international travel, we are now optimistic that the company will continue its excellent growth trajectory”.
