Is Booking.com, the online travel site, looking to trim its workforce? Well, parent company, Booking Holdings has been assessing the financial situation of the firm and has found that its operating expenses have gone up by 13.6 per cent in the third quarter. Therefore, it is reported that job cuts may be around the corner. However, a final decision is yet to be made as the review has only just begun.
As per its filing with the US Securities and Exchange Commission (SEC), the company is aiming to become more agile and cost efficient even while remaining competitive in the travel space. This will entail channelising resources in the right direction in order to ensure a better experience and improved offerings to customers and stakeholders.
While Booking Holdings is considering restructuring Booking.com, its other brands—Agoda, Kayak, OpenTable—are unlikely to be affected by the exercise.
Details of the job cuts / restructuring process are yet to be officially revealed by Booking but are expected soon.
Earlier this year, in February, Seattle-based online travel giant, Expedia Group, had opted to streamline its operations by reducing its workforce by approximately nine per cent, impacting around 1,500 employees. This strategic move came amidst a leadership change and was aimed at revitalising growth and recapturing market share.
At the time, it was reported that the restructuring would allow Expedia to invest more heavily in key areas for future expansion, following a period focused on technical enhancements. The move was in alignment with the appointment of Ariane Gorin as CEO, effective 13 May. Gorin, who had previously led the fast-growing enterprise division, was expected to drive a renewed growth strategy.
