TAIPEI (Taiwan News) — South East Travel Service Co. (SET Tour), a long-established Taiwan travel agency, has announced a plan to lay off 15 percent of its workforce as a result of the coronavirus pandemic.

As Taiwan's tourism industry remains sluggish, SET Tour said Friday (Nov. 13) it will cut 170 jobs to reduce the economic impact wrought by COVID-19. It said the difficult decision was made to restructure the group and ensure survival.

SET Tour explained there has been a sharp drop in international travel due to COVID-19, and the majority of its overseas tours have been halted. It said it has avoided major layoffs for several months now, but the losses in revenue have become too great to bear.

The company said most of the layoffs are agents in charge of overseas tours, including many who were on standby in Japan. It added that employees who are affected by the cuts have already been notified and that the company will carry out the procedures in accordance with government regulations, reported ETtoday.

Since the pandemic began, several travel agencies in Taiwan have been forced to reduce staff, including UNO Tour, Galilee Tours, Phoenix Tours International, Lifetour, and GoByTrain. Also, 25 companies have temporarily suspended their services, and 46 have been disbanded, according to Liberty Times.