American travel technology company Expedia Group is eliminating nine percent of its workforce, which is 1500 jobs. Towards the end of 2023, the company had employed 17,100 people in more than 50 countries.
The job cuts come after the announcement of a leadership transition in early February. On May 13, Ariane Gorin will take over as chief executive officer. Peter Kern, chief executive officer will be stepping down.
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The company had warned that the revenue for 2024 would be moderate, owing to the price drop in air tickets.
As stated by Expedia, the total pre-tax charges and cash expenditures which are associated with restructuring are expected to range between $80 million and $100 million.
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