Norwalk, Connecticut-based Booking Holdings, Ian owner/operator of several travel fare aggregators and travel fare metasearch engines, has announced a costcutting initiative.
The number of impacted employees is unknown, but expected to be substantantial as the company's workforce numbers approximately 24,000 employees.
According to a company spokesperson, “As part of a broader transformational program aimed at creating greater opportunities for innovation, improving efficiency and strengthening our long-term financial position, Booking.com is currently reviewing its organizational structure. While we are still in the early stages of this process and no decisions have been made, we expect to make organizational changes. This is a proactive step to make sure Booking.com remains agile in a very competitive industry and keeps driving customer-centered innovation at pace.”
“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, and better position the Company for the long term.”
CFO Ewout Steenbergen noted, “We continue to be very focused on carefully managing the growth of our fixed expenses. We believe it is important to drive greater operating leverage in our fixed expenses as this creates capacity for disciplined investment across our strategic initiatives, which we believe will help drive stronger top line and earnings growth in the future.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?