Arlington, VA - June 16, 2008 - ARC announced that it has once again revised its financial plans for 2008 and taken a number of actions including a 3% reduction in personnel to respond to the rapidly changing economies of the air travel market.
"Even as we continue to take difficult operational measures - and those involving our people truly are the most difficult decisions to make - ARC is doing so with the goal of being able to continue to deliver cost-effective services and innovative solutions to our customers," said ARC President and CEO David Collins.
ARC operational cuts follow similar measures implemented in early March and are reflective of the industry's continued difficulty as evidenced in declining transaction volumes.
About ARC - ARC is a technology solutions company providing transaction settlement and data information services.
Airlines, travel agencies, corporate travel departments, railroads, and other travel suppliers process up to $80 billion annually through ARC's world-class settlement system, making it the financial backbone of travel distribution. ARC COMPASS®, the leading, trusted source for travel transaction information, powers data and analytical tools that help ARC customers make confident business decisions. For more information, please visit www.arccorp.com.