Expedia Group Inc. said late Monday it expects to lay off about 1,500 employees as it works to \u201crecalibrate resources.\u201d <\/p>\n
Expedia All pre-tax charges and costs associated with the restructuring are expected to be recorded this year, to the tune of $80 million to $100 million, and are mostly employee severance and compensation benefits costs, the company said. <\/p>\n See also:<\/strong> Expedia\u2019s stock punished as analysts warn of \u2018more uncertainty\u2019<\/a><\/p>\n Shares of Expedia edged higher in the after-hours session Monday after ending the regular trading day down 1%. <\/p>\n Expedia earlier this month reported better-than-expected quarterly earnings, but it surprised Wall Street by announcing a CEO change. <\/a>Expedia\u2019s stock is down 11% so far this year, contrasting with a 6.3% gain for the S&P 500 index It nearly matches the broader index\u2019s performance on a 12-month basis, however, up 29% to the S&P\u2019s 28% advance. <\/p>\n<\/p><\/div>\n<\/div>\n
\n EXPE,
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\n said the employees affected started getting notified on Monday. The online travel company, which also owns brands such as VRBO and Hotels.com, said that it was committed to \u201crestructuring actions\u201d that resulted in the layoffs, in a filing <\/a>with U.S. securities regulators. <\/p>\n
\n SPX<\/a>.<\/span>\n <\/p>\n