Expedia Group on Monday said that it will cut about 1,500 jobs, or roughly 8% of its workforce, as part of its latest restructuring effort. The travel technology company, which aggregates travel fares and allows users to book flights and lodging from its platforms, had about 17,100 employees in over 50 countries at the end of last year. Expedia Group operates Expedia.com and also serves as the parent company of brands including Vrbo, Hotels.com, Orbitz, Hotwire and Travelocity, among others.Expedia Group sa ...

Group 1 - Expedia is cutting approximately 1,500 jobs globally, representing about 9% of its total workforce, as part of its organizational and technological transformation [1] - The restructuring follows a warning from Expedia that revenue is expected to moderate in 2024 due to declining air ticket prices and the resignation of CEO Peter Kern [1] - The company anticipates total pre-tax charges and cash expenditures related to the restructuring to be between $80 million and $100 million [1] Group 2 - The travel industry is adjusting expectations for 2024, indicating a slower growth in demand [1] - Booking Holdings has also forecasted slower growth in bookings for the first quarter and the full year as US travel demand normalizes [1]

Core Insights - Expedia Group has appointed Alfonso Paredes as President of Private Label Solutions and Greg Schulze as President of Travel Partners and Media, creating two new operating divisions within the company [1][2] - The leadership changes are part of a strategic move to enhance relationships with travel partners and accelerate growth in the advertising business [2][3] - Both leaders bring extensive global experience and have been with Expedia Group for many years, indicating the company's commitment to fostering internal talent [3] Leadership Appointments - Alfonso Paredes has over 14 years of experience with Expedia Group and has significantly contributed to the growth of the Private Label Solutions business, expanding into various global regions [1] - Greg Schulze has nearly 20 years of experience with Expedia Group and serves on the U.S. Travel and Tourism Advisory Board, emphasizing his role in building transformational partnerships [2] Strategic Focus - The new divisions aim to leverage Expedia Group's capabilities to deliver value to partners and enhance the travel experience for consumers [3] - The appointments reflect a strategic intent to capitalize on global opportunities, with leaders having experience across Asia, Europe, Latin America, and North America [3] Company Overview - Expedia Group operates under three main pillars: Expedia Brands, Expedia Product & Technology, and Expedia for Business, focusing on consumer brands, product strategy, and B2B solutions [4] - The company's flagship consumer brands include Expedia®, Hotels.com®, and Vrbo®, with a unified loyalty program called One Key™ that will soon be available globally [5]

Expedia Group Inc. (EXPE, Financial) announced its full-year 2023 results earlier this month, and markets did not take kindly to developments in its earnings, with the stock dropping by 18% the day after earnings were announced. Management warned that the tailwinds in travel demand seen by the company so far in 2023 could be moderating globally in 2024, especially within air travel. But what really seems to have blindsided investors was news about Expedia's CEO, Peter Kern, stepping down from the company to ...

Edwin Tan Investment Thesis: I take the view that Expedia Group (NASDAQ:EXPE) has the capacity for further upside based on an attractive P/E ratio, continued earnings growth, and impressive revenue growth across the B2B segment. In a previous article back in September, I made the argument that Expedia Group could see significant growth from here based on strong growth in gross bookings coupled with a lower long-term debt to total assets ratio. While the stock has seen substantial growth from a price of $99 ...

Shares of Expedia Group closed down 18% on Friday, their biggest single-day drop in nearly four years, after the online travel firm said it expected 2024 revenue growth rates to moderate as air fares soften from post-pandemic highs. The company late on Thursday also said Chief Executive Officer Peter Kern would step down from his position and be replaced by company insider Ariane Gorin. Expedia shares snapped a four-day winning streak and dragged down those of other travel firms following the warning. Booki ...

Expedia Group, Inc. (EXPE) delivered fourth-quarter 2023 adjusted earnings of $1.72 per share, up 37% from the year-ago quarter. The figure beat the Zacks Consensus Estimate by 2.99%.Revenues of $2.89 billion rose 10% year over year. The figure surpassed the Zacks Consensus Estimate of $2.88 billion.Year-over-year revenue growth was driven by the strong performance delivered by the B2B segment. Strength in lodging offerings and growing momentum across non-U.S. regions contributed well.Growing gross bookings ...

Shares of travel bookings platform Expedia Group (EXPE -18.85%) dropped on Friday after the company reported financial results for the fourth quarter of 2023. In reality, the numbers were pretty good, but a surprise change of CEO cast a shadow over the financial results. As of 11:30 a.m. ET, Expedia stock was down 19%.Expedia's record yearExpedia generates revenue in several ways, including processing travel bookings, earning commissions, and advertising. In 2023, the company generated record revenue of $12 ...

Expedia (NASDAQ:EXPE) stock plunged 15% after disappointing bookings numbers and the departure of CEO Peter Kern.The travel site earned $132 million, 92 cents per share fully diluted, on revenue of $2.89 billion during the quarter. This compared with net income of $177 million, $1.11 per share, and revenue of $2.61 billion a year earlier.However, the departure of Kern, who had been CEO for four years, spooked investors the most. Expedia was due to open this morning at about $134 per share, a market capitali ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...