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Expedia Group Inc (NASDAQ:EXPE, ETR:E3X1) has unveiled plans to lay off some 1,500 employees as travel demand growth slows. Employees were notified of the cuts on Monday, which are set to affect around 9% of the online travel company's workforce as it looks to “recalibrate resources”.
Expedia Group is planning to cut about 1,500 jobs and reduce the size of its workforce by about 8% as it continues a restructuring effort after undergoing a technical overhaul.
The restructuring comes after Expedia warned earlier this month that revenue would moderate in 2024 as air ticket prices drop and said CEO Peter Kern was stepping down.
Online travel platform Expedia said on Monday it was cutting about 1,500 jobs as part of its latest restructuring.
Eric Sheridan, Goldman Sachs, joins 'Closing Bell Overtime' to talk his contrarian picks in tech.
Expedia Group Inc. (EXPE, Financial) announced its full-year 2023 results earlier this month, and markets did not take kindly to developments in its earnings, with the stock dropping by 18% the day after earnings were announced. Management warned that the tailwinds in travel demand seen by the company so far in 2023 could be moderating globally in 2024, especially within air travel.
Peter Kern, the outgoing Expedia CEO, says the company is reset for the future and "is in a really strong place." He expects travel growth to be solid and speaks to Bloomberg's Sonali Basak.
Expedia (EXPE) President for Business Ariane Gorin is set to succeed CEO Peter Kern, the transition taking effect on May 13. Expedia CEO Peter Kern joins Yahoo Finance Live to discuss the succession plan, post-pandemic travel bookings, and where AI fits into the travel booking site's business.
Expedia CEO Peter Kern joins 'Squawk on the Street' to discuss the company's latest quarter, his decision to resign after four years, and more.
Expedia Group has continued to see impressive growth in gross bookings and adjusted earnings per share. The stock appears to be trading at an attractive P/E ratio. I continue to take a bullish view on Expedia Group.