Orbits cuts costs.....what does this mean for agents?

I read the below article. With companies like expedia and orbitz cutting expenses, does this mean service will continue to decline? I think the online research tools are great, and should be used. However, I still believe if you want service, you need to use an agent that you can trust and depend on. We can be a big help when problems arise. We can provide great service and knowledge, and we can be reached easily!....a real live person. LOL.

Happy Travels, Amy

TECHNOLOGY JANUARY 7, 2009, 8:02 A.M. ET Orbitz Names Harford CEO, Plans More Cost Cuts Article

Orbitz Worldwide Inc. appointed Barney Harford president and chief executive, replacing Steve Barnhart, who retired to pursue other interests.

The online travel agent on Wednesday also said it would cut another $20 million to $25 million in annual costs, on top of the $20 million announced in November, but didn't provide further details.

November's announcement included a 10% work force reduction as Orbitz saw results falling short of long-term targets because of a global travel slowdown.

Mr. Harford worked at rival online travel company Expedia Inc. from 1999 to 2006, developing the company's air, car, private label and telesales businesses, and most recently led the company's entry into the Asian-Pacific region, Chairman Jeff Clarke said. For the past two years he has served on boards and as an adviser to Internet companies in the travel industry and other markets.

Mr. Barnhart joined Orbitz in 2003 and was part of the team that took the company public later that year. Orbitz was subsequently acquired and again became a publicly traded entity in 2007 after being acquired a second time. Mr. Barnhart became Orbitz's president in late 2006 and CEO in 2007.

Travel firms have seen slumping demand the past several months as consumer confidence hit record lows and discretionary spending falls.

Orbitz's shares closed Tuesday at $4.12 and haven't traded premarket. The stock is up 32% in the last month but is still down 46% for the past year.