Expedia, an Online Travel Platform, has announced that it is reducing its global workforce comprising 17100 employees by 9%.
As part of this company-wide restructuring to facilitate organizational and technological transformation, near to 1500 employees are going to face the brunt of layoffs.
This restructuring at Expedia comes at a time when the company’s CEO, Peter Kern had announced that he would be stepping down from his role in May 2024, and the travel companies are foreseeing a comparatively slower demand growth, this year.
With this restructuring in place, Expedia is facing an $80-$100 million charge involved in employee severance, as per the company’s regulatory filing.
