Okerstrom`s new employment contract as CEO also comes with an annual salary of $1 million and an annual discretion bonus. Hafner still makes many travel industry bets as their bet for the next CEO of the Expedia Group. “Hafner would be the best choice,” said one of them after the story was published. “He`s a true entrepreneur and a great leader. Maybe he`s smarter than Barney. I`d like to work for him. But it`s a ballbuster. What Expedia needs in my opinion. The lack of vision decothetically expedia and Hafner could remedy this. Hafner is convinced that he has a competitive contract with his employer, Booking Holdings.
Different Direction Okerstrom also has performance bonuses related to its employment contract with a two-year extension that was negotiated in March 2016. For example, Okerstrom received 175,000 stock options if Expedia`s closing price was US$180 on average over a six- or twelve-month period until September 30, 2021. An Expedia spokesperson told PhocusWire: “In areas where we had clarification on the changes we wanted to make, on February 25, we began implementing the proposed changes by warning individuals.” In other work, we are still working on the details of what the proposed changes might mean for local teams. The company adds that affected employees are offered competitive local financial separation packages as well as outplacement support, benefit continuation and employment assistance program. The anonymous ex-employee said the layoffs were unexpected and the workers surprised. As an organization, we achieved our goals very well last year,” they say. “I think we`ve had a lot of big gains, a lot of major organizational changes that have led to a lot of kings.” Regarding layoffs, the anonymous ex-employee said, “For me, it seemed to be going very fast, and it was a shock.” Simon`s comments reflect the same surprise. All those who were let go to those who remained were completely on the ground,” says Simon. “My management didn`t have a say, whether I was let go or not.” But the unnamed ex-employee says executives were aware of the layoffs. [We heard one] When we were laid off, the travel leadership team had to make some tough decisions, and they had been thinking about it for some time,” they say. An Expedia Group spokesperson informed PhocusWire that an entire company-wide assessment had been made prior to the layoffs. Simon and the anonymous ex-employee agree that layoffs have been widespread in all of the company`s organizations, although there is disagreement over which employees have been targeted for layoffs. If people had jobs and were close to their wages, they were deemed fit to cut,” says Simon.The anonymous ex-employee thinks the decisions were random and said that employees of different pay levels, mandates and evaluations were targeted. If I had to guess, it`s more about sending a message to everyone who`s there than actually downsize,” the source said.