Expedia Group Inc. will cut about 3,000 jobs, approximately 12 percent of its workforce, including around 500 at its Seattle headquarters, to reduce costs. “We are announcing our intent to reduce and eliminate certain projects, activities, teams, and roles to streamline and focus our organization,” the company said in an internal email.

It said the company has been “pursuing growth in an unhealthy and undisciplined way.”

The cuts are apparently in response to the “disappointing 2019 business performance” and have been planned by the new leadership team after former CEO Mark Okerstrom resigned in late 2019, following a disagreement between senior leadership and the board. Chief Financial Officer Alan Pickerill also resigned at the same time.

Expedia Chairman Barry Diller said the downsizing with save up to US $500 million in costs.

“The actions we’re taking to simplify our business and drive cost efficiency will position Expedia Group for improved revenue growth,” Diller said. He recently criticized the company’s working culture recently, describing the business as ‘bloated.’

In its quarterly earnings report earlier this month, Expedia said it expects between US $300 million and US $500 million in run-rate cost savings across its business this year, but made no mention of layoffs.

Expedia shares fell 6.5% Monday.