Online travel agency Expedia is eliminating about 1,500 employees, according to published reports.

CNN reports the cuts, which amount to nearly 9% of its 17,100-strong global workforce, come amid slowing travel demand following a post-pandemic boom and a broader shakeup at the company, including a new CEO.

“Given the recent completion of many significant technical milestones in Expedia Group’s transformation, the business continues to evaluate the appropriate allocation of resources to ensure the most important work continues to be prioritized,” a company spokesperson said in a statement to CNN.

In a regulatory filing, Expedia said that the cuts will result in an $80 million to $100 million charge to its bottom line because of costs related to severance and compensation benefits. According to CNN, an Expedia spokesperson said that the changes “will result in the elimination of some roles” that “allows the company to invest in core strategic areas for growth.”