Expedia eliminating 12% of workforce
Expedia is cutting costs by eliminating 3,000 jobs after the company’s chairman criticized his employees’ work ethic. FOX Business’ Ashley Webster with more.
Online travel booking company Expedia announced Tuesday that it is retiring its HomeAway rental service to focus on its travel website, Vrbo.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| EXPE | EXPEDIA GROUP, INC. | 86.60 | +3.48 | +4.19% |
Starting in July, HomeAway users will be redirected to the Vrbo website and app, which launched in May 2019 and is now live in 15 countries, according to a press release.
“Since it was founded 25 years ago, Vrbo has become a leader in the vacation rental industry and a household name in family travel," Expedia Vice Chairman and CEO Peter Kern said in a Tuesday statement. Through the years, the Vrbo brand has consistently outperformed HomeAway with family travelers."
He added that unifying Expedia's vacation rental brands under Vrbo will allow the company to focus it "energies on providing the best travel experience for families everywhere."
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Consolidating HomeAway and Vrbo, which work similarly to rental app Airbnb but with a focus on "family travel," will simplify customer experiences, the release said.
"Family travel is incredibly complex – whether you’re planning a trip with kids, grandparents, extended family or close friends who are like family – it’s not easy to find a place that makes everybody happy," Vrbo President Jeff Hurst said.
He added that the homes available on Vrbo put an emphasis on "privacy" and the "amenities they provide."
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"Our singular focus on Vrbo means we can do more to give families amazing vacations and deliver quality bookings for our partners," Herst said.
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