Layoffs: Booking.Com’s Parent Company Announces Job Cuts As Part Of Reorganisation

The firm, that owns brands such as Booking.com and Kayak, didn’t share any details on how many jobs will be affected by the restructuring exercise

By : ABP News Bureau | Updated at : 09 Nov 2024 02:31 PM (IST)

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’s parent company, Booking Holdings on Friday announced that it plans to cut jobs in the company. The travel giant said that it expects to layoff people as part of broader changes to its businesses. 

The company plans to enhance real estate savings which these changes, reported Reuters. The firm, that owns brands such as Kayak, didn’t share any details on how many jobs will be affected by the restructuring exercise.

However, 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 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.

Also Read : Onion Prices Reach Rs 80 Per Kg, Causing Havoc On Households

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.

Also Read : Boeing To Pay Lost Wages To Furloughed Workers, But Layoffs Still On The Cards

Published at : 09 Nov 2024 02:31 PM (IST)
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Layoffs Booking.com Job Cuts Booking Holdings Layoffs

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