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February 08, 2016 8:40 PM ET

Internet and Catalog Retail

Company Overview of Orbitz Worldwide, Inc.

Company Overview

Orbitz Worldwide, Inc. operates as an online travel company worldwide. It uses technology that enables leisure and business travelers to research, plan, and book a range of travel products and services, including hotels, flights, vacation packages, car rentals, rail tickets, cruises, travel insurance, destination, services and event tickets. It also provides various travel management services; and private label travel solutions to a range of partners. The company’s brand portfolio includes Orbitz and CheapTickets in the United States; ebookers in Europe; and HotelClub in the Asia Pacific, as well as RatesToGo. Orbitz Worldwide, Inc. was founded in 2000 and is headquartered in Chicago, Illino...

500 West Madison Street

Suite 1000

Chicago, IL 60661

United States

Founded in 2000

1,530 Employees



Key Executives for Orbitz Worldwide, Inc.

Chief Financial Officer and Senior Vice President
Age: 42
Senior Vice President of U.S. Consumer Travel and President of Orbitz.Com
Age: 44
Senior Vice President and President of Orbitz Business
Age: 47
Senior Vice President and President of Orbitz Partner Network
Senior Vice President and President of Hotelclub
Compensation as of Fiscal Year 2015.

Orbitz Worldwide, Inc. Key Developments

Expedia Cuts Staff from Recently Acquired Orbitz

Expedia has laid off an undisclosed number of employees in the wake of its acquisition of Orbitz. Expedia said in a Securities and Exchange Commission filing that employees will be cut from Orbitz as part of a restructuring resulting from a merger of the two companies. Expedia expects severance and benefits costs from the layoffs to total between $130 million and $150 million. Much of that, $70 million, was recorded in Expedia's third-quarter financial report last month. The layoffs took place within the Orbitz ranks, meaning it's likely that few, if any, local Expedia employees were affected. Orbitz had 1,530 employees globally at the end of 2014. Orbitz employees were notified of the layoffs. The company is trying to find new positions for some of them within Expedia. Expedia will record the remaining costs related to severances in the fourth quarter and into 2016.

Orbitz Worldwide, Inc.(NYSE:OWW) dropped from S&P Retail Select Industry Index

Orbitz Worldwide, Inc.(NYSE:OWW) dropped from S&P Retail Select Industry Index

Orbitz Worldwide, Inc. Announces Board Changes

On September 17, 2015, Orbitz Worldwide, Inc. completed its previously announced merger with Xeta, Inc. In connection with the consummation of the Merger and as contemplated by the Merger Agreement, all of the directors of Orbitz (Gavin Baiera, Martin J. Brand, Mark S. Britton, Kenneth S. Esterow, Scott Forbes, Robert L. Friedman, Bradley T. Gerstner, Barney Harford and Kristina M. Leslie) resigned as directors of Orbitz and as members of each of the committees of the Board of Directors on which they served, effective immediately prior to the Effective Time. Also, as contemplated by the Merger Agreement, at the Effective Time, the directors of Merger Sub were appointed the directors of Orbitz and the incumbent officers of Orbitz immediately prior to the Effective Time continued as officers of Orbitz. In addition, following the Effective Time, certain officers of Expedia were appointed as officers of Orbitz.

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