Expedia Says On Feb. 22 Committed To Restructuring Actions Including workforce Reduction Impact ~1,500 Employees; Total Pre-Tax Charges and Cash Expenditures Are Expected To Be $80M-$100M
Portfolio Pulse from Benzinga Newsdesk
Expedia announced on Feb. 22 that it is undertaking restructuring actions, including a workforce reduction impacting approximately 1,500 employees. The company expects total pre-tax charges and cash expenditures related to these actions to be between $80M and $100M.
February 26, 2024 | 10:06 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Expedia is undergoing restructuring, including a significant workforce reduction of about 1,500 employees, with financial implications of $80M-$100M in charges and expenditures.
The announcement of workforce reduction and the associated financial charges are likely to create uncertainty among investors regarding short-term operational efficiency and profitability. This could lead to a negative perception in the market, potentially impacting the stock price negatively in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100