Booking Holdings Announces Job Cuts Amid Restructuring

Booking Holdings, the parent company of online travel brands Booking.com and Kayak, is cutting jobs as part of a reorganization aimed at improving operational efficiency and reducing costs, following a rise in operating expenses in 3Q24. The company has not specified the number of job cuts or their locations, but says it will provide further details soon. 

As of the end of 2023, Booking Holdings employed about 23,600 people. The company’s decision to restructure follows a 13.6% rise in operating expenses during the 3Q24. The reorganization is expected to enhance operational efficiency, increase organizational agility, and allow for resource reinvestment into the company’s offerings to both travelers and business partners, reports Reuters. 

Booking Holdings also plans to modernize processes, optimize procurement, and make improvements to its systems as part of the overall restructuring efforts. 

This news aligns with the broader industry trend of job cuts among major companies. Firms such as Visa, Microsoft, Cisco, and Intel have all reduced their workforce this year in response to rising operational costs. These layoffs highlight the growing pressure on businesses to streamline operations and manage expenses. As a result, job seekers and employees are facing increased uncertainty and anxiety, as the job market becomes more unpredictable, as previously reported by MBN.