(Reuters) – Online travel agency Booking.com is considering job cuts as part of a review of its organizational structure, the company announced on Saturday.
Booking.com, a subsidiary of Booking Holdings (NASDAQ:), stated in an email that they are in the early stages of the review process and have not yet made a final decision.
“This is a challenging but necessary proactive measure to ensure Booking.com maintains its agility in a highly competitive industry and continues to drive innovation centered around customers at a rapid pace,” the statement read.
According to its annual report, Booking Holdings had approximately 23,600 employees at the end of 2023, but specific figures for Booking.com were not provided.
Booking Holdings disclosed in a filing with the U.S. Securities and Exchange Commission on Friday that more details on timing, potential impact on employees, and financial implications of the reorganization will be shared “in due course”.
A spokesperson for the company clarified that the review only pertains to Booking.com and not its other brands like Priceline, Agoda, Kayak, and OpenTable.
These developments follow Booking Holdings reporting a 13.6% increase in operating expenses for the third quarter.
“We believe these initiatives will enhance operating expense efficiency, boost organizational agility, and allocate resources for further enhancing our services to both travelers and partners,” the filing stated.
Booking Holdings also plans to streamline processes and systems, as well as optimize procurement as part of the organizational changes.