Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The online travel agency Expedia Group announced in March 2024 to lay off roughly 1,500 employees, about nine per cent of its global workforce, by the end of 2024. As a result of this decision, the Czech branch of the company, Expedia Services CZ, has announced to cut 350 jobs out of the 450 staff at the Prague centre.
The layoffs are set to occur in two waves, starting in April 2024, and affected employees are those who handle communication with hotels in Europe, Africa and the Middle East from Prague and solve users' technical problems. Expedia is moving these work operations to cheaper countries, such as India and Guatemala. Russian and Ukrainian speakers remain at the Czech site. As the Czech Republic is no longer a cheap country in the eyes of global corporations, these positions are at risk of moving abroad too.
Eurofound (2024), Expedia Services CZ, Offshoring/Delocalisation in Czechia, factsheet number 201244, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201244.