Total pre-tax charges and cash expenditures associated to the move are expected to range between $80 million and $100 million, mostly due to employee severance and compensation benefits costs, according to Expedia.
Expedia, which has 17,100 employees globally, owns and operates brands such as Hotels.com, Orbitz, Trivago, among others.
Layoff memo to employees
Expedia CEO Peter Kern told employees that the “deepest cuts” would be felt in the company’s product and technology teams, according to reports.
“I know my message may make some of you feel anxious, so I wanted you to hear this news directly from me,” Kern said as quoted by the UPI. “We are extremely grateful for every Expedian’s contributions, and I know we wouldn’t be where we are today without the contributions of every member of our team.”
The memo comes in the heels of Kern’s announcement that he would be stepping down as CEO, with Ariane Gorin to take over effective May 13.
