Expedia Group Announces Major Layoffs, Cuts 8% of Global Staff Amid Restructuring

Expedia Group Inc., a Seattle-based travel technology company, is set to lay off over 8% of its global workforce. This means that around 1,500 staff worldwide will lose their jobs this year.

Per The Straits, this move is part of Expedia Group's restructuring plan. This comes after the company said earlier this month that it would reshuffle its executives for better leadership.

Attempt to Regain Market Share

The tech and travel company is reorganizing its management and business structure to revive growth while regaining healthy market share. Expedia Group's spokesperson said via e-mail that the company's decision to trim its workforce worldwide was made so it could invest in core strategic areas for growth.

The spokesperson added, "Given the recent completion of many significant technical milestones in Expedia Group's transformation, the business continues to evaluate the appropriate allocation of resources to ensure the most important work continues to be prioritized."

Expectations From Restructuring

Fox Business reported that in a recent regulatory filing, the Expedia Group expects the company's restructuring to result in around $80 million to $100 million in total pre-tax charges and cash expenditures. It said most funds will be allocated for employees' severance pay and other compensation benefits.

The company said about the layoffs, "This year, we will be reviewing our operations which we expect will result in approximately 1,500 roles being impacted across the globe and while this review will result in the elimination of some roles, it also allows the company to invest in core strategic areas for growth."

The Expedia Group said, "Consultation with local employee representatives, where applicable, will occur before making any final decisions."

Photo by: Expedia Newsroom