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Booking.com Parent Eyes Job Cuts Amid Larger Reorg Plan | PYMNTS.com

Nov 10, 2024 - pymnts.com
Booking.com is conducting a companywide review that could result in job cuts, according to a regulatory filing by its parent company, Booking Holdings. The review will include an expected workforce reduction and cost reductions such as real estate savings and procurement optimization. The company believes these measures will improve operational efficiency, increase agility, free up resources for reinvestment, and better position the company for the long term.

The review is specific to Booking.com and does not include other brands under Booking Holdings, such as Priceline, Agoda, Kayak, and OpenTable. The news follows Booking Holdings' better-than-expected gains in Q3 and early results from growth initiatives. The company is also rolling out new artificial intelligence features and has seen a 40% YoY increase in "connected trip" transactions.

Key takeaways:

  • Booking.com is conducting a companywide review that could lead to job cuts and cost reductions, including real estate savings and optimizing procurement.
  • The review is specific to Booking.com and not its other company brands, which include Priceline, Agoda, Kayak and OpenTable.
  • The company's parent, Booking Holdings, had 23,600 employees at the end of last year.
  • The news comes after Booking Holdings reported better-than-expected gains in the third quarter and early results from some growth initiatives.
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