Booking.com could cut jobs as part of reorganization plan

(Reuters) -Online travel agency Booking.com could cut jobs as part of a review of its organizational structure, it said on Saturday.

The company, a unit of Booking Holdings (NASDAQ:BKNG ), said in an emailed statement that it was in the early stages of the review process and no firm decision had been made.

"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," it said in the statement.

As of the end of 2023, Booking Holdings employed about 23,600 people, according to its annual report, which did not provide figures for Booking.com.

Booking Holdings, in a filing with the U.S. Securities and Exchange Commission on Friday, said it expected to provide more details on timing, likely impact on employees and financials from the reorganization "in due course".

A company spokesperson said the review was specific to Booking.com and not its other brands, such as Priceline, Agoda, Kayak and OpenTable.

The changes come only days after Booking Holdings posted a 13.6% jump in operating expenses for the third quarter.



"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 said in the filing.

Booking Holdings added it would also modernize processes and systems and optimize procurement as part of the organizational changes.

Source: Investing.com