Online travel giant Expedia will cut about 3,000 jobs after what the company described in a statement as "disappointing" performance last year. The firm, which operates its flagship travel site as well as Hotels.com, Hotwire, Travelocity, Cheaptickets, Egencia and CarRentals.com, said on Monday the decision was made after determining it had been "pursuing growth in an unhealthy and undisciplined way."
"Great tech companies have walked this same path in order to come back stronger and more competitive than ever. We have restarted the journey and bringing the world within reach is in our hands," the company said.
Expedia's share price rose 1.4 percent after markets opened on Tuesday. During a February 13 earnings call, Diller called the organization "bloated" and said many employees didn't know what "they were supposed to do during the day."
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