Companies Reduce Travel Budgets as Economy Worsens

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Companies Reduce Travel Budgets as Economy Worsens

February 25, 2008 12:08 PM

Employees are staying closer to home as companies’ travel budgets shrink. Instead of face-to-face meetings, companies are promoting phone and web conferences. When workers do travel, they’re asked to provide an economic rationale for the trip and to reduce their costs by booking the cheapest airfare and sharing rooms and cars with colleagues. The shift is putting a strain on airlines, which are already struggling due to high fuel costs.