Expedia to Cut 1,500 Jobs, 9% of Workforce, Amid Slowing Travel Demand and Company Restructuring

• Expedia is eliminating about 1,500 jobs, amounting to nearly 9% of its global workforce, due to slowing travel demand and a company transformation • The job cuts will result in an $80-100 million charge for severance and benefits costs • Expedia has acquired several online travel sites over time like Hotels.com, Vrbo, Orbitz, etc. • CEO Peter Kern is departing and Ariane Gorin will take over the role in May • Cuts come after Expedia posted disappointing profits and projected slowing revenue growth this year partially due to declines in flight ticket prices