Expedia is trimming almost 1,500 roles, or nearly nine percent of its employees, as it undergoes a major organizational and technological overhaul.
The travel giant expects to incur between $80 million and $100 million in pretax charges and cash expenses due to these layoffs.
The move to slim down its workforce has already commenced, with notifications being sent to the impacted staff.
As of the end of last year, Expedia employed 17,100 people across over 50 countries.
This announcement comes after a disappointing travel reservation forecast from its competitor, Booking Holdings.
Looking to boost your online brand? Create your FREE business profile at WhatBiz? Here
The move also follows the news of Peter Kern’s impending exit, who served as CEO since 2020, following a report of less-than-expected gross bookings in the last quarter.
On February 8, Expedia reported a decrease in net profit to $132 million, or 92 cents per share, from the previous year’s $177 million, or $1.11 per share, missing analysts’ expectations.
Although Expedia saw a six percent increase in gross bookings, reaching $21.67 billion for the quarter, it still fell short of the expected $22 billion.
Job Cuts 2024
- Xerox To Cut Workforce By 15 Percent
- Alibaba Subsidiary Lazada Lays Off Employees In Southeast Asia
- Unity Software Cuts 1,600 Jobs In Latest Tech Layoffs
- Barclays Confirms 5,000 Global Job Cuts
- Cybersecurity Giant Trend Micro Cuts 150 Staff
- Google Announces Hundreds Of Layoffs As It Focuses On AI
- Duolingo Lays Off Workers As It Relies On AI For Lesson Creation
- Discord Axes 170 Jobs After Massive Hiring Spree
- Citigroup To Cut 20,000 Jobs
- Amazon Slashes Five Percent Of Jobs In Audible Division
- YouTube Announces 100 Layoffs
- Macy’s To Slash Over 2,300 Corporate And Store Roles
- Wayfair Cuts 1,650 Global Staff In Restructuring
- Tencent’s Riot Games Lays Off 530 Employees
- EBay To Cut 1,000 Full-Time Employees
- SAP To Offer Buyouts And Job Changes For 8,000 Employees
- Los Angeles Times To Lay Off Roughly 115 Newsroom Staff
- TikTok Cuts 60 Jobs In Sales And Advertising
- Flexport To Cut 500 Jobs As Shipping Demand Slows
- Microsoft To Cut 1,900 Jobs In Gaming Division
- Levi Strauss To Cut Corporate Workforce By 15 Percent
- John Lewis To Cut Up To 11,000 Jobs Over Five Years
- Lloyds To Cut Another 1,600 Jobs
- Channel 4 Plans To Cut 250 Jobs
- Paramount Chief Announces Layoffs Amid Cost-Cutting Measures
- Business Insider Axes 8 Percent Of Staff
- IRobot Cuts 31 Percent Staff After Amazon Merger Collapses
- UPS Announces 12,000 Job Cuts In A Drive For Profitability
- PayPal To Cut 2,500 More Jobs In Latest Tech Layoffs
- Sky Confirms 1,000 Job Losses As Customer Preferences Shift
