Expedia Preparing for Layoffs

Two months after parting ways with its chief executive officer and chief financial officer, online travel agency Expedia will cut its workforce by 12 percent, the company said.

In a memo sent to employees and obtained by CNN, the company outlined its plan by saying it will “reduce and eliminate certain projects, activities, teams, and roles to streamline and focus our organization.”

The exact number of layoffs was not detailed in the memo.

“Transitions like this are difficult as the impact is felt by teammates, colleagues, and friends we have known and partnered with through ups and downs,” the company said in its email. “For those who will be leaving, we thank you for your many contributions to Expedia Group and wish you safe travels as you find your next opportunity.”

Expedia last year tried some financial moves to increase the strength of the company, the most dramatic of which was consolidating its family of brands including Orbitz, Hotels.com and Vrbo. The strategy failed, and the company parted ways with CEO Mark Okerstrom and Chief Financial Officer Alan Pickerill.

Barry Diller, chairman of Expedia’s board of directors, then criticized Expedia on an earnings call.

“Amazon was all work and no life, and at Expedia, it was all life and no work,” he said, comparing the two companies. “That is not damning our employees. But for several years, we really lost clarity and discipline. So we’re changing a great deal.”

Source: Read Full Article