Expedia Group Inc said on Monday it would cut about 3,000 or 12 percent of its workforce as part of a plan to streamline its business.
The online travel services company had 25,400 employees globally as of 31 December.
“We are announcing our intent to reduce and eliminate certain projects, activities, teams, and roles to streamline and focus our organization,” the company said in an email to employees, a copy of which was obtained by Reuters.
The job cuts include 500 people in its headquarters in Seattle, a company spokeswoman said in a statement.
Earlier this month, Expedia said it was not providing a full-year forecast as the company assessed the impact of the coronavirus outbreak on its operations.
The epidemic, which has killed more than 1,300 people in China, has raised concerns that the global economic fallout could stretch further into 2020 than what was earlier expected.
“We are not providing a specific guidance range given uncertainty on how much cost savings we’ll recognize this year and the full effect of coronavirus,” Expedia said in a statement.
On an adjusted basis, Expedia earned $1.24 per share in the fourth quarter ended 31 December, beating analysts’ average estimate of $1.19 per share, according to Refinitiv data.
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Updated Date: Feb 25, 2020 09:29:47 IST