Expedia reorganizes and cuts staff in move to be 'more efficient' |
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Expedia reorganizes and cuts staff in move to be 'more efficient'
Expedia laid off an undisclosed number of employees today as part of a corporate reorganization. The online travel giant released a short statement after TechFlash learned of the layoffs, with company spokeswoman Katie Deines confirming that some of the cuts occurred at the Bellevue headquarters.
"Expedia made organizational changes in some business units today in order to reduce duplication of efforts and build a more efficient company structure," the statement said. "Some positions have been relocated elsewhere within the company, and other positions have been eliminated. We are providing resources to assist those employees who were not placed in different positions within the company to aid them in their search for new employment."
On Feb. 19, Expedia announced a fourth quarter net loss of $2.76 billion after taking accounting charges. That compared to a profit of $65 million for the same period in 2007. Bookings also fell at the company 11 percent in the fourth quarter.
In the earnings call last week, the company said it had reduced headcount and instituted a salary freeze for employees. The company moved into a new headquarters in downtown Bellevue at Tower 333 last year. At the time that the move was announced, Expedia employed 1,700 people locally. UPDATE: Expedia employs just under 6,000 worldwide, excluding the Chinese subsidiary eLong.
Expedia has lost more than half its value in the past six months as it deals with fewer people booking cruises, flights and vacation packages.
About John Cook
John Cook is co-founder and executive editor of TechFlash. He has been covering the technology beat for nearly a decade, writing about startups, entrepreneurs and venture capital, most recently serving as a reporter/blogger at the Seattle Post-Intelligencer.
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