Expedia cuts 3,000 jobs after “disappointing” results
Online travel site Expedia Group will cut 3,000 jobs worldwide as it looks to reduce operating costs after “disappointing” results last year.
The Seattle based firm, who also runs Hotels.com, Hotwire, Travelocity, Cheaptickets, Egencia and CarRentals.com, has 25,400 employees around the globe.
It revealed that in the last quarter, net profit had gone down 4% and earnings per share had gone down 1%. The 3,000 job cuts represent nearly 12% of its total workforce.
“We are announcing our intent to reduce and eliminate certain projects, activities, teams and roles to streamline and focus our organisation,” the company said in an email to staff, according to Reuters.
Expedia chairman Barry Diller said the company is aiming to save US$300 to US$500 million with the job cuts and be more focused on its projects and priorities.
“I am confident that simplifying our business and clarifying our focus by making these difficult changes, our teams can get back to working on the projects and priorities that make the most sense for us, our customers and our partners,” he told The Seattle Times.