‘Bloated’ Expedia cutting 3,000 jobs
Expedia Group Inc is streamlining the business, with about 3,000 jobs being cut.
That represents about 12% of its workforce.
Job cuts will include about 500 from its Seattle HQ.
"We are announcing our intent to reduce and eliminate certain projects, activities, teams, and roles to streamline and focus our organization," the company said in an internal email.
The firm has been ‘pursuing growth in an unhealthy and undisciplined way.’ It said.
It is a response to the ‘disappointing 2019 business performance’ and has been planned by the new leadership team after former CEO Mark Okerstrom stepped down in late 2019.
Expedia Chairman Barry Diller said the downsizing with save up to $500 million in costs.
"The actions we’re taking to simplify our business and drive cost efficiency will position Expedia Group for improved revenue growth," Diller said.
Diller criticized the company’s working culture recently, describing the business as ‘bloated.’
Expedia will not provide a full-year forecast due to uncertainty around the coronavirus outbreak, which could soon turn into a pandemic, the US administration said.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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