Zuma Global president Heather Zumarraga has responded to a recent report on the Big Money Show that revealed the technology company will cut 32,500 jobs in 2024.
expedia group announced Monday that it will cut about 1,500 jobs, or about 8% of its workforce, as part of its latest restructuring efforts.
of travel technology The company, which aggregates travel prices and allows users to book flights and accommodations through its platform, had about 17,100 employees in more than 50 countries at the end of last year. Expedia Group operates his Expedia.com and also serves as the parent company of his brands such as Vrbo, Hotels.com, Orbitz, Hotwire, and Travelocity, among others.
Expedia Group said in a regulatory filing that it expects the reorganization to result in total pre-tax charges and cash outlays of approximately $80 million to $100 million, the majority of which will be for employee severance and compensation. He said the money would be used to pay for benefits.
Expedia stock price declines after 2024, warns of softening airfares
Expedia plans to cut about 1,500 jobs this year, or about 8% of its workforce. (Gabby Jones/Bloomberg via Getty Images/Getty Images)
“Given the recent completion of a number of important technical milestones in Expedia Group’s transformation, we are directing resources to ensure that the most important work continues to be prioritized,” an Expedia Group spokesperson said in a statement. “We continue to evaluate appropriate allocations.”
“As a result, we will be reviewing our operations this year, which is expected to impact around 1,500 roles worldwide,” the statement continued. “While this review will result in the elimination of some roles, it will also allow the company to invest in core strategic areas for growth.”
Expedia introduces trip planning feature using CHATGPT to its app
Expedia Group CEO Peter Kahn said Monday that the company will restructure its workforce this year. (Photographer: David Paul Morris/Bloomberg via Getty Images/Getty Images)
“Consultations will be held with local employee representatives, where applicable, before a final decision is made,” the company’s statement concluded.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| Expe | Expedia Group Co., Ltd. | 134.95 | -1.35 | -0.99% |
Expedia Group stock fell nearly 1% during Monday trading, but rose about 0.67% in after-hours trading.
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Reuters contributed to this report.
