Booking.com To Cut 25% Of Staff As Pandemic Puts Travel Industry On Life-Support

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