(Reuters) – Online travel giant Booking Holdings said on Friday it expected to cut jobs as part of broader changes to its businesses, which also aim to drive real estate savings.
Booking Holdings, which owns brands like Booking.com and Kayak, did not disclose how many jobs would be affected but said it expected to provide more details on timing, likely impact on employees and financials “in due course”.
As of the end of 2023, Booking employed about 23,600 people.
The changes come only days after the company posted a 13.6% jump in operating expenses for the third quarter.
“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,” it said in a filing with the U.S. Securities and Exchange Commission.
Booking Holdings added it would also modernize processes and systems and optimize procurement as part of the organizational changes.
(Reporting by Manas Mishra and Aishwarya Jain in Bengaluru; Editing by Anil D’Silva and Mohammed Safi Shamsi)