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Expedia to cut about 1500 jobs globally

Online travel platform Expedia said on Monday it was cutting about 1500 jobs globally, or about 9 per cent of its total workforce, as part of its “organizational and technological transformation”.

The restructuring comes after Expedia warned earlier this month that revenue would moderate this year as air ticket prices drop and said CEO Peter Kern was stepping down.

“The business continues to evaluate the appropriate allocation of resources to ensure the most important work continues to be prioritised,” an Expedia Group spokesperson said.

Travel companies are tempering expectations this year, a sign that demand is expected to grow more slowly this year.

Last week, Booking Holdings forecast slower first quarter and full-year growth in bookings as US travel demand normalises.

Total pre-tax charges and cash expenditures associated with the restructuring actions are expected to be between US$80 million and $100 million, Expedia said.

  • Reporting by Kannaki Deka in Bengaluru; Editing by Pooja Desai, of Reuters.
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