What is Expedia?
Expedia Inc., owned by Expedia Group, is a Seattle-based online travel agency. Launched by Microsoft in 1996, it’s one of the world’s largest travel booking platforms. The website and mobile app allow users to book airline tickets, hotel reservations, car rentals, cruise ships, and vacation packages. Expedia competes with Booking.com, dominating the US market while Booking.com leads in Europe. It aims to provide the lowest prices, backed by a “Best Price Guarantee”.
Expedia Layoff: Expedia to Cut About 1,500 Jobs Globally
Expedia, a leading online travel company, is laying off 1,500 employees, or 9% of its workforce, due to moderating travel demand. The company’s CEO, Peter Kern, recently stepped down, and Expedia has warned that revenue would decline in 2024. Other travel companies are also facing similar challenges and are tempering their expectations for this year.
In Short:
- Expedia to lay off 1,500 employees, or 9% of its workforce.
- The job cuts come amid moderating travel demand and a slowdown in the travel industry.
- Other travel companies are also tempering expectations for 2024.