Media mogul Barry Diller blasts Expedia's corporate culture: 'It was all life and no work'
Diller said Expedia's work-life balance was the opposite of Amazon, which he described as 'all work and no life.'an executive shakeup last December. On Expedia's fourth-quarter earnings call on Thursday, Diller compared Expedia's work-life balance to fellow Seattle-based tech company Amazon , which was "all work and no life." By comparison, Expedia has become "sclerotic and bloated" as the company lacked focus and direction, Diller said. "Amazon was all work and no life, and at Expedia, it was all life and no work," Diller said. "That is not damning our employees. But for several years, we really lost clarity and discipline. So we're changing a great deal." The comments came after Expedia results for the fourth quarter. The company beat on the bottom line and forecast double-digit adjusted EBITDA growth for 2020. Expedia also said it's targeting $300 million to $500 million of run-rate cost savings across its business. Shares of Expedia climbed as much as 10.3% in early trading on Friday. Diller and Vice Chairman Peter Kern took over the day-to-day operations at Expedia after former CEO Mark Okerstrom and CFO Alan Pickerill stepped down from their roles last December. At the time, Diller said the leadership changes resulted from disagreements over strategy between senior management and the board. On the call, Diller said the company doesn't plan to conduct a search for a new CEO. Diller added that, moving forward, he intends to cut down on "wasteful activities that weren't core" to the business. That includes streamlining units like the company's home rental platform Vrbo, which Diller described as a "bunch of disparate businesses, brands, all over the world" and re-prioritizing Expedia's air business. "We're stopping doing dumb things and starting to do what we think are good things," Diller said. VIDEO Read more: CNBC
Start with the do nothings on your board Start by firing the lot of them. And now their leader is at the helm of Uber...
Expedia suspends 2020 forecast on coronavirus uncertaintyExpedia Inc said on Thursday it was not providing a full-year forecast as the on...
Channel Your Inner Capricorn With These 2020 PlannersThe 13 Best Planners to Get You Actually Organized in 2020
WSJ News Exclusive | Jeff Bezos Buys David Geffen’s Los Angeles Mansion for a Record $165 MillionWSJ News Exclusive: Amazon CEO Jeff Bezos has purchased a 9-acre Beverly Hills property for $165 million, according to a person familiar with the transaction, setting a new record for Los Angeles I think it's more like a 'we don't have to pay for it, but we can pay for it.' BernTheRich BernieSanders congratulations.
Union president accuses Pete Buttigieg of 'perpetuating this gross myth' about union health care: 'This is offensive''For profit healthcare doesn't work, PeteButtigieg. It's killing people & putting working people in financial ruin,' Sara Nelson tweeted. A juror on the Roger Stone trial said she wants to 'stand up' for the four prosecutors who withdrew from the case in response to their sentencing recommendation being changed by DOJ leadership. She wrote on Facebook that she 'can't keep quiet any longer.' CNN If a union cannot provide healthcare for their members, they should fire their leaders! Federalizing unions is one step away from state servitude. Union member of the construction trades here. We work hard to get it and pay a good dime for it.
Opinion | The ‘Stakeholders’ vs. the PeopleFrom WSJopinion: I oppose 'stakeholder capitalism' because I don’t want American capitalists to play a larger role in defining and implementing the country’s political and social values, writes Vivek Ramaswamy
At Work With Dan Rogers, Executive Producer of Nashville's Grand Ole OpryThe country-music vet is responsible for upholding the culture of one of Nashville’s most vital, legendary institutions — a job that can keep him working 24 hours at a time