Sir Bob Geldof's online travel company, Deckchair.com, is cutting over a quarter of its staff to cut costs and is looking to outsource parts of its business.The company's IT department is to lose 13 staff, leaving less than 35 people to run the company. Deckchair.com is reportedly in discussions with another travel company and is expected to make an announcement in the next few weeks. Ian Neale, commercial director of Deckchair.com, reportedly said that the move was part of a restructure and that the company was not in financial difficulties. He claimed that business travel sales had increased 42 per cent over last year. Widely tipped as a Deckchair partner is ten-year old Online Travel Company, otcuk.com, which has its roots in the traditional travel business. But at Online, a spokesman refused to confirm or deny the suggestions. When Deckchair.com was launched in 1998, Geldof said his motivation was irritation at the available online offerings.