Expedia slashing 1,500 jobs after bleak travel demand forecast, CEO exit

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]