Booking.com may face layoffs in restructuring amid rising operational costs

Meanwhile, other brands under Booking Holdings - such as Priceline, Agoda, Kayak, and OpenTable - are not expected to be impacted

Booking Holdings, the parent company of the online travel site Booking.com, is reportedly evaluating potential job reductions within its travel platform. According to the news agency Reuters, these potential cuts are part of an extensive review aimed at restructuring the organisation. In an email statement, Booking Holdings indicated that the review is still in its early stages and no final decisions have been made.

 

This development follows the company’s recent financial report showing a 13.6 per cent increase in operating expenses for the third quarter.

 

While Booking.com may face potential layoffs, other brands under Booking Holdings—such as Priceline, Agoda, Kayak, and OpenTable — are not expected to be impacted. A spokesperson clarified that the restructuring efforts would be confined to Booking.com.

 

At the end of 2023, Booking Holdings employed nearly 23,600 people. In a recent filing with the US Securities and Exchange Commission (SEC), the company indicated that these adjustments are intended to enhance cost efficiency, improve agility, and redirect resources to enhance offerings for travelers and partners. “This is a difficult but necessary proactive step to keep Booking.com competitive in the fast-paced travel industry,” the company noted in the statement to Reuters.

 

The specific scope of potential job cuts remains unclear. Booking Holdings mentioned in the SEC filing that more information on the timing, employee impact, and financial outcomes of the reorganisation will be provided “in due course”. In a similar industry move earlier this year, Expedia announced global job cuts of around 1,500 roles, representing about 9 per cent of its workforce, as part of a broader organisational and technological restructuring. An Expedia Group spokesperson noted that the decision was aimed at better allocating resources to prioritise key areas of the business.

 

Ongoing layoffs in tech industry despite slowing pace

 

The tech sector has seen a wave of layoffs for some time, though the rate of job cuts is beginning to ease. In September alone, around 3,941 employees were affected as 35 tech companies implemented layoffs.

 

Earlier this week, Nissan Motor announced plans for significant cost-cutting, including a reduction of 9,000 jobs and a second downward revision of its annual forecast. Similarly, Visa is scaling back its workforce by approximately 1,400 employees as part of efforts to streamline its global operations. These reductions are expected to be completed by the end of the year.

 

[With inputs from Reuters]