• News
  • Technology
  • Culture
  • Entertainment
  • Sport
  • Travel
  • Music
  • More
    • Politics
    • Lifestyle
    • TV
    • Games
Friday, March 24, 2023
  • Login
No Result
View All Result
NEWSLETTER
FINCHANNEL
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
No Result
View All Result
FINCHANNEL
No Result
View All Result
ADVERTISEMENT
Home Travel News

Online travel conglomerate Expedia is cutting thousands of jobs

by The FINANCIAL
February 25, 2020
in Travel News
0
Share on FacebookShare on Twitter

The FINANCIAL – Travel giant Expedia Group is cutting 12% of its workforce, or about 3,000 jobs, after a “disappointing” 2019. The company’s stock hit its low, $95.67, over the past 12 months on November 11. Expedia chairman Barry Diller said he was aiming for savings of $300-500 million in 2020.

Company executives sent an email announcing the changes on Monday afternoon, writing “we recognize that we have been pursuing growth in an unhealthy and undisciplined way” and calling the company’s performance in 2019 “disappointing.” In addition to eliminating 12% of its workforce, the company will also cut costs by ending unspecified projects and reducing its use of contractors and vendors, CNBC reported.

The firm, which operates its flagship travel site as well as Hotels.com, Hotwire, Travelocity, Cheaptickets, Egencia and CarRentals.com by the end of December, had 25,400 employees around the globe. Over the course of 2019, sales increased by eight per cent, net income by four per cent and earnings per share by six per cent. But company leadership revealed that in the last quarter, net profit had gone down four percent and earnings per share had gone down one percent, according to Business Times.

RelatedPosts

Accor expands its footprint in Georgia with signing of the new ibis in Tbilisi

eTa Canada – a necessary document for travel to Canada

Accor: We exceeded our financial and non-financial targets

Benefits of Private Air Charters for Business and Leisure Travel

Despite the email to employees, the State of Washington, where Expedia is headquartered, has yet to post any Worker Adjustment and Retraining Notification, known as WARN. Expedia Group, of course, has offices around the United States, including Seattle, Chicago, Dallas, Austin, New Orleans, Miami, and San Francisco. It also has large facilities in the UK, India, Australia, Spain, Sweden, Australia, and the Netherlands, for example. The company may have more employees outside the U.S. than domestically. The layoffs came as Expedia Group was seemingly at an inflection point. The company’s stock hit its low, $95.67, over the past 12 months on November 11, a few days after reporting disappointing third quarter earnings, Yahoo Finance wrote.

The staff reductions will affect about 3,000 employees, including 500 people in Expedia’s Seattle-based headquarters, said Josh deBerge, a company spokesman. The workers will begin to be notified this week. Expedia didn’t tie the job cuts to effects of the coronavirus, which executives earlier this month said added “uncertainty” to the company’s profit outlook. “Following our disappointing 2019 business performance and our change in senior-most management, the travel leadership team has spent the last few months determining a better way forward,” the email read, according to Seattle Times.

During a February 13 earnings call, Expedia chairman Barry Diller called the organization “bloated” and said many employees didn’t know what “they were supposed to do during the day.” Diller also said he was aiming for savings of $300-500 million in 2020. In early December, Expedia announced the immediate departures of chief executive Mark Okserstrom and chief financial officer Alan Pickerill, as reported by The Economic Times.

The company is offering employees severance packages, including extended health-care coverage, according to a person familiar with the issue who asked not to be identified discussing private information. In the email to its staff, Expedia leadership acknowledged this transition would be difficult. “Great tech companies have walked this same path in order to come back stronger and more competitive than ever. We have restarted the journey,” the email said, The Straits Times wrote.

Tags: barry dillercarentals.comcarrentals.comcheapticketscutting jobsegenciaEmploymentexpediaexpedia grouphotels.comreducing jobsslashing jobstravel conglomeratetravel gianttravelocity
ADVERTISEMENT
The FINANCIAL

The FINANCIAL

Related Posts

Accor ჯგუფი საქართველოში საქმიანობას აფართოებს და თბილისში ,,იბისის“ ახალი სასტუმროს მშენებლობას იწყებს
Hotels in Georgia

Accor expands its footprint in Georgia with signing of the new ibis in Tbilisi

by The FINANCIAL
March 13, 2023
0

Accor, a world leading hospitality group, announces the signing of the cooperation agreement with Fujin Silk Properties LLC, company based...

Read more
eTa Canada – a necessary document for travel to Canada

eTa Canada – a necessary document for travel to Canada

March 2, 2023

Accor: We exceeded our financial and non-financial targets

February 27, 2023
Brussels Airlines launches new destination on the Belgian holiday market

Benefits of Private Air Charters for Business and Leisure Travel

February 17, 2023
Next Post
Diamond Princess cruise “failed” quarantine and ship became floating incubator for the coronavirus

Diamond Princess cruise “failed” quarantine and ship became floating incubator for the coronavirus

Please login to join discussion
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
EasyJet to fly to London from Stockholm Arlanda

The London Diplomatic List, Addresses, Contacts & Working Hours

January 23, 2023
How to Check KRA Pin Using ID Number

How to Check KRA Pin Using ID Number

June 25, 2018
How to Manage an Employee Who’s Having a Personal Crisis

5 Assets To Store Your Wealth During Times Of Crisis

September 22, 2022
Russian issue: State Sponsors of Terrorism, U.S. State Department

Americans’ Favorable Rating of Russia Sinks to New Low of 9%

March 14, 2023
UK Government has ordered to freeze assets of additional 300 persons related to ISIL and AL-QAIDA

UK Government has ordered to freeze assets of additional 300 persons related to ISIL and AL-QAIDA

October 3, 2020
Protected: 6 Things You Should Know About a Master’s in Accountancy

Protected: 6 Things You Should Know About a Master’s in Accountancy

March 22, 2023
How Custom CRM Can Help Businesses: Perks, Hurdles, and Your Ultimate Game Plan

How Custom CRM Can Help Businesses: Perks, Hurdles, and Your Ultimate Game Plan

March 21, 2023
UK boosts support for International Criminal Court

UK boosts support for International Criminal Court

March 20, 2023
Children whose mothers use marijuana may try it at a younger age

By 2025, the estimated marijuana retail sales may generate up to 15 billion U.S. dollars in sales

March 20, 2023
New Study of Coronavirus Variants Predicts Virus Evolving to Escape Current Vaccines, Treatments

SARS-CoV-2 infection weakens immune-cell response to vaccination

March 20, 2023

Popular Last 24h

  • Kvaratskhelia Football Dynasty: Mamia, Badri, Khvicha and Tornike

    Kvaratskhelia Football Dynasty: Mamia, Badri, Khvicha and Tornike

    0 shares
    Share 0 Tweet 0
  • The London Diplomatic List, Addresses, Contacts & Working Hours

    0 shares
    Share 0 Tweet 0
  • How to Check KRA Pin Using ID Number

    0 shares
    Share 0 Tweet 0
  • 5 Assets To Store Your Wealth During Times Of Crisis

    0 shares
    Share 0 Tweet 0
  • How to Read Forex Line Charts

    0 shares
    Share 0 Tweet 0
  • Nearly 40,000 Victims Receive Over $115M in Compensation for Fraud Schemes Processed by MoneyGram

    0 shares
    Share 0 Tweet 0
  • Tegeta Motors was officially awarded with the International Award of Groupauto International

    0 shares
    Share 0 Tweet 0

LATEST POSTS

Protected: 6 Things You Should Know About a Master’s in Accountancy

Protected: 6 Things You Should Know About a Master’s in Accountancy

March 22, 2023
How Custom CRM Can Help Businesses: Perks, Hurdles, and Your Ultimate Game Plan

How Custom CRM Can Help Businesses: Perks, Hurdles, and Your Ultimate Game Plan

March 21, 2023
UK boosts support for International Criminal Court

UK boosts support for International Criminal Court

March 20, 2023
Children whose mothers use marijuana may try it at a younger age

By 2025, the estimated marijuana retail sales may generate up to 15 billion U.S. dollars in sales

March 20, 2023
New Study of Coronavirus Variants Predicts Virus Evolving to Escape Current Vaccines, Treatments

SARS-CoV-2 infection weakens immune-cell response to vaccination

March 20, 2023
107,735 Americans died between August 2021 and August 2022 from drug poisonings

107,735 Americans died between August 2021 and August 2022 from drug poisonings

March 20, 2023
Protected: Maximizing Your Returns: How to Choose the Right Mutual Fund‍

Protected: Maximizing Your Returns: How to Choose the Right Mutual Fund‍

March 20, 2023
Women imitate masculine traits to be taken seriously as gamers

Online Live Casinos with Huge Earnings

March 16, 2023
Local manufacturing is one of the primary factors that can guarantee the stability of any country

Local manufacturing is one of the primary factors that can guarantee the stability of any country

March 16, 2023
World Hearing Day 2023

World Hearing Day 2023

March 16, 2023

LATEST INTERVIEWS

‘Russia cannot be treated as a reasonable and reliable trade partner

‘Russia cannot be treated as a reasonable and reliable trade partner

by The FINANCIAL
February 13, 2023
0

We should increase our joint efforts to assist the growing tech sector here in Georgia

We should increase our joint efforts to assist the growing tech sector here in Georgia

by The FINANCIAL
February 13, 2023
0

‘Georgia has much to offer to UK investors

‘Georgia has much to offer to UK investors

by The FINANCIAL
February 13, 2023
0

‘The best way for the Georgian economy to prosper is to join the EU

‘The best way for the Georgian economy to prosper is to join the EU

by The FINANCIAL
February 13, 2023
0

‘The Kremlin wants Georgia to fail or abandon its European path

‘The Kremlin wants Georgia to fail or abandon its European path

by The FINANCIAL
February 13, 2023
0

Russian Patriarch Kirill Says Dying In Ukraine ‘Washes Away All Sins’

Interview: Why Putin Might Prefer A Stalemate To Going Nuclear On Ukraine

by The FINANCIAL
October 22, 2022
0

Kvaratskhelia Football Dynasty: Mamia, Badri, Khvicha and Tornike

Kvaratskhelia Football Dynasty: Mamia, Badri, Khvicha and Tornike

by Tengiz Pachkoria
August 11, 2022
0

“Green business is a key instrument to support business development in a sustainable way”

“Green business is a key instrument to support business development in a sustainable way”

by The FINANCIAL
July 27, 2022
0

Newsletter

ADVERTISEMENT

GET IN TOUCH

E-mail your company news at:

news (at) financial.ge Letters to the Editor: editor (at) finchannel.com

Local Marketing contact:

(+99532) 2252 275 | 76 EXT: 1 (+995 558) 03 03 03 (mobile) marketing (at) finchannel.com

Requests from abroad:

(+99532) 2252 275 | 76 EXT: 7 (+995599) 96 52 52 Email: zviadi (@) finchannel.com Contact video editor: E-mail: video (at) financial.ge

Postal address: 17 Mtskheta str. Tbilisi, Georgia 0179 The FINANCIAL

RESOURCE

  • Work at the FINANCIAL
  • ePaper
  • Advertise in The FINANCIAL
  • Access ePaper
  • Guest posts
  • Contributed articles
  • AmericanStockNews
  • Coupon Codes
  • GLOSSY MAG
American Culture Center
ACC Partner

GUIDEBOOK

  • Meet our team
  • Invest in Georgia
  • Become contributor
  • Archive

FOLLOW US

  • Facebook
  • Twitter
  • Google+
  • Youtube
No Result
View All Result
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.