The travel technology company Expedia Group has announced that it will be letting go of about 1,500 employees this year. That’s about 9% of its total staff around the world.
Expedia made a financial statement with the Securities and Exchange Commission (SEC) indicating that the restructuring will adjust resources to align with changes in the company’s structure and technology.
The company plans to lay off around 1,500 employees as part of the restructuring. The affected employees were informed about the layoffs starting on February 26, 2024.
Expedia thinks the move will cost between $80 million and $100 million in cash and pre-tax costs. This is mostly because of the costs of letting employees go and their compensation perks.
Furthermore, Expedia owns and runs a number of names, such as Hotels.com, Orbitz, and Trivago. In addition, it has 17,100 employees around the world.
Staff Memo On Layoffs
Reportedly, Expedia CEO Peter Kern informed staff that the company’s technology and product departments will be facing the “deepest cuts”.
According to the UPI, Kern stated, “I wanted you to hear this news directly from me because I know my message may make some of you feel anxious.” “We are extremely grateful for every Expedian’s contributions, and I know we wouldn’t be where we are today without the contributions of every member of our team.”
Kern declared he would be leaving his position as CEO, starting May 13, and the company sent out the memo shortly after. Ariane Gorin will succeed him.
In addition to continuing in his roles as vice chairman and director of the company, Kern is anticipated to maintain close collaboration with Gorin during the changeover.
“I am appreciative and proud of the team we have assembled at Expedia Group, as well as the perseverance and fortitude they showed while we undertook an extraordinarily difficult and ambitious transition. In a statement, Kern stated, “We have essentially reset the Company for the future, and we are in a position to lead our industry for decades to come.
“As Vice Chairman, I look forward to working closely with Ariane and our leadership team as they continue the momentum we have built and realise on all the opportunity that our transformation has created.”
