Expedia To Eliminate About 1,500 Employees

(RTTNews) - Travel company, Expedia Group Inc. (EXPE) disclosed in a regulatory filing that it will eliminate about 1,500 employees, as part of its "organizational and technological transformation".

The total pre-tax charges and cash expenditures linked to the restructuring actions, expected to be recorded in 2024, are estimated to range between $80 million and $100 million. These costs primarily comprise employee severance and compensation benefits, the company said.

Earlier this month, Expedia Group announced that its Chief Executive Officer Peter Kern would step down from the position, effective May 13. However, he would continue to serve as the company's Vice Chairman.

Kern would be replaced by Ariane Gorin, who most recently served as the President of Expedia for Business.