Online travel company, Expedia Group, is set to lay off about 1,500 of its employees, constituting about 9% of its global workforce.
With a workforce of 17,100 across more than 50 countries, the decision to streamline its workforce comes on the heels of Expedia's disappointing holiday results and a less-than-optimistic outlook for the current quarter. The company is navigating a landscape of decelerating travel growth as the surge in post-pandemic demand witnessed in 2023 diminishes.
This move follows the recent leadership transition announced in February as the company strives to rejuvenate growth and reclaim market share. The restructuring aims to enable Expedia to allocate resources strategically and focus on essential areas for expansion.
Notices regarding the job reductions began circulating on 26 February, affecting employees worldwide, particularly those in technology roles.
Ariane Gorin, leader of Expedia's enterprise division, is slated to take over as CEO on 13 May, succeeding Peter Kern.
Expedia is now concentrating on sales growth in 2024 after dedicating the past two years to technical enhancements and overhauling its loyalty programme.
While its consumer business experiences a slowdown, the enterprise division, catering to corporate clients and powering travel booking websites for major brands, has been a significant contributor with double-digit revenue gains.