Seattle, February 27: US-based travel technology company Expedia Group is planning to lays off 9% of its workforce. The Expedia Group layoffs in 2024 will affect around 1,500 employees. The decision about layoffs is taken by the company due to slow demand in the industry and the leadership change announcement done by the company earlier this month. The reports said that the online travel company Expedia Group is trying to revive its growth and regain its market share. 

USA's Seattle-based Expedia Group reportedly had around 17,100 employees in about 50 countries till the end of 2023. The reports said that nearly half of all these employees worked in technology roles. According to the report by Hindustan Times, the Expedia Group's spokesperson said in an email about the company's achievement in competing major technical milestones in the company's transformation. The spokesperson of the online travel company also reportedly said that the Expedia Group's business continues to evaluate "appropriate allocations of the resources", ensuring important ones getting prioritised. Vijay Shekhar Sharma Steps Down As Non-Executive Chairman and Board Member of Paytm Payments Bank Ltd.

The report further mentioned that the employees who were affected received communications related to the job cuts on Monday. The report suggested that the Expedia Group witnessed underwhelming holiday results and a weaker outlook than expected for the current quarter, and according to another report by NewsBytes, the company's fourth-quarter gross booking amounted to $21.7 billion, which reportedly failed the average prediction of $22 billion.

The report focused on the following parameters related to the Expedia Group Layoffs 2024 - shifting focus and funding restructuring. Further, the report said that thousands of companies started laying off employees during post-pandemic years. The report mentioned that according to the website, 170 tech firms fired more than 42,250 employees in 2024. In 2023, it said that 190 firms fired 262,915 employees. The report said that 1,064 companies laid off 165,269 employees in 2022. South Korea’s Top Mobile Carrier SK Telecom To Create Joint Venture With Four Global Mobile Carriers To Develop LLMs for Industry.

The Hindustan Times's report highlighted that the Expedia Group has prioritised increasing sales in 2024. It said the company spent the past two years focusing on the "technical upgrades" and "revamp of its loyalty programme".

(The above story first appeared on LatestLY on Feb 27, 2024 12:39 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website