SEATTLE - About 500 workers will be laid off in Seattle amid business performance concerns and leadership management changes from a Washington state-based travel platform company.

Expedia Group released a statement Monday saying the company will stop certain projects while reducing its use of vendors and contractors, affecting about 12% of its workforce, KOMO-TV reported.

Employees are expected to get layoff notifications this week.

"We are announcing our intent to reduce and eliminate certain projects, activities, teams, and roles to streamline and focus our organization," company officials said in the statement. "Our company needed a fresh and forward look at clarifying our strategy and simplifying our operations."

Expedia, which owns travel fare aggregators and metasearch engine websites, has been expanding in recent years and is still building-out its corporate campus in Seattle, officials said. The decision to eliminate 3,000 jobs is part of an effort to save $500 million over the coming year.

"For those who will be leaving, we thank you for your many contributions to Expedia Group and wish you safe travels as you find your next opportunity," the statement said. "For the many who are continuing forward, travel is intensely competitive and demands our very best leadership, innovation, collaboration, and execution to win."