YourTravelBiz International Inc. (YTB) has announced the completion of a restructuring of its management team and a significant cut in its general overhead expenses.

YTB has recruited at least 700 Bermudians, who signed up to the travel website in recent years, including Independent MP and former United Bermuda Party leader Wayne Furbert, who set up his own affiliated business in 2008, and Kenneth Minors, based in Lexington, Kentucky, who runs Minors Travel, a franchise of YTB Travel, of Illinois.

The company said it has reduced general overhead expense by almost $4 million in fiscal 2009 and since CEO and chief financial officer Robert Van Patten's appointment, approximately $1.5 million in general overhead expenses were reduced in 2010.

YTB said the company continues to operate through three subsidiaries: the new marketing entity ZamZuu Inc. (formerly YTB Marketing Inc.), YTB Travel Network Inc., and YTB Franchise Services Inc.

Scott Tomer will continue to serve as chairman of YTB, as well as CEO of ZamZuu. J Kim Sorensen remains as vice-chairman of YTB and president of YTB Travel Network Inc. Robert Van Patten joined the company on a full-time basis in October 2009 as CEO and president, and has been serving as interim chief financial officer of YTB since February 2010.