Booking.com To Cut 25% Of Staff As Pandemic Puts Travel Industry On Life-Support
- Date: 04-Aug-2020
- Source: Forbes
- Sector:Industrial
- Country:Oman
Booking.com To Cut 25% Of Staff As Pandemic Puts Travel Industry On Life-Support
TOPLINE
In another indication of the havoc Covid-19 is wreaking on the travel industry, online travel company Booking.com said Tuesday it will reduce its global workforce by up to about 25%, the latest signal that all segments of the industry, from airlines to accommodations, are suffering as consumers remain home-bound.
In this photo illustration, A woman wearing a protective face mask is holding an iPhone showing the ... [+] app of booking.com on June 1, 2020 in Veghel, Netherlands. (Photo by Joris Verwijst/BSR Agency/Getty Images)
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KEY FACTS
Booking.com, which specializes in helping consumers book stays in individual homes and apartments, said in a regulatory filing it is still working to "develop more clarity on the timing, the number of affected employees, financial impact and other aspects of the contemplated cost reduction actions,“ but added that it "expects to finalize its plans and make relevant announcements to employees, on a country by country basis,“ beginning in September, and expects to make all announcement by the end of this year.
The cuts would amount to roughly 4,000 employees, according to CNN, but Booking.com gave