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TUI plans for budget cuts, hiring freeze due to coronavirus outbreak

March 2 (Reuters) - European holiday company TUI said on Monday it plans to cut administrative budget, freeze hiring and postpone non-critical projects, following weaker bookings last week due to the coronavirus outbreak.

"At this point in time, we only see a marginal effect on our operations," the company said. (Reporting by Rishika Chatterjee in Bengaluru; Editing by Shounak Dasgupta)