Expedia reorganizes and cuts staff in move to be 'more efficient' |
Register here for our next TechFlash Live networking event, March 23, featuring an expert panel discussing the future of online advertising.
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.
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.
READ FULL BIOGRAPHYTechnology Tax Planning – Did You Take The Deduction?
Technology companies require professional advisors who can assist in all aspects of the business. The BDO Technology Practice provides a full range of services tailored to help address the changing needs of domestic and international companies. In addition to core audit and tax services, BDO professionals can assist technology companies with:
· Revenue recognition
· Business combination accounting
· R&D tax credits
· Compensation and benefits
· Business valuations
Backed by 38 national offices and an international network in 110 countries, we have the domestic and global footprint to serve growing technology companies. Contact sphilpott@bdo.com (audit partner), mreeves@bdo.com (audit partner), psmith@bdo.com (tax partner), tzambito@bdovaluation.us.com (valuation), tfiscus@bdo.com, Director, 206.624.2020
Join the Microsoft WebsiteSpark program and get software, support and visibility – at no upfront cost. You’ll benefit from fast and easy access to current Microsoft development tools, platform technology and server products including Visual Studio, Expression Studio, Silverlight, Windows Web Server 2008 and SQL Server 2008 Web.
Seattle-based Adhost is a WebsiteSpark hosting partner providing dedicated servers with free Windows Web Server 2008 and SQL Server 2008 licensing for three years to Web developers enrolled in WebsiteSpark. Servers are located in our secure data center with SAS 70 Type II certification, 24x7 technical support and 24x7 client access.