Layoffs: Booking.Com Considering Job Cuts As Part Of Reorganisation

The restructuring review remains specific to Booking.com and will not impact the parent company, Booking Holdings' other brands like Agoda, Kayak, Priceline, and OpenTable.

However, more information about the timing, likely impact on employees, and financials is expected from the company ‘in due course’, the report said.

Source : Mondo

Booking.com on Saturday announced that it plans to cut jobs in the firm as part of a review of its organisational structure. The firm, a unit of Booking Holdings, in an emailed statement to Reuters revealed that it is in the early stages of the reorganisation and no firm decision has been made on the matter. 

The statement noted, "This is a difficult but necessary proactive step to make sure Booking.com remains agile in a very competitive industry and keeps driving customer-centered innovation at pace."

The company plans to enhance real estate savings which these changes, reported Reuters. Booking.com didn’t share any details on how many jobs will be affected by the restructuring exercise. However, the restructuring review remains specific to Booking.com and will not impact the parent company, Booking Holdings' other brands like Agoda, Kayak, Priceline, and OpenTable.

More information about the timing, likely impact on employees, and financials is expected from the company ‘in due course’, the report said.

As of 2023 end, Booking Holdings had a workforce of nearly 23,600 people. These changes in the structure follow days after the firm reported a 13.6 per cent increase in its operating expenses for the third quarter. 

In an official filing with the US Securities and Exchange Commission, the company said, “We believe these efforts will improve operating expense efficiency, increase organizational agility, free up resources that can be reinvested into further improving our offering to both travelers and partners.”

It noted that it will also focus on modernising processes and systems and optimise procurement as part of the changes in the organisation.

Notably, the wave of layoffs has been going on for a while in the tech industry, while the pace has steadily declined. In September itself, 35 tech firms laid off nearly 3,941 employees.

Earlier this week, Nissan Motor announced several cost-cutting measures such as cutting down 9,000 jobs and slashed its annual forecast for the second time in the year. Visa also slashed its workforce by almost 1,400 individuals as the card giant looks to streamline its international operations. These layoffs will be finalised by the end of the year.