Booking Holdings announced Friday that it will make a variety of “organizational changes,” including layoffs.
The Connecticut-based company, among the largest in travel, didn’t provide specifics on the number of employees who would be affected or the financial impact of the reorganization.
One of the issues is that growth in operating expenses has outpaced revenue growth. It is likely that the company will try to reset priorities in tech investments to stay competitive.
Among the company’s tech priorities are its payments platform, fintech and generative AI.
In the company’s third quarter earnings call last month, Chief Financial Officer Ewout Steenbergen said: “We continue to be very focused on carefully managing the growth of our fixed expenses. We believe it is important to drive greater operating leverage in our fixed expenses as this creates capacity for disciplined investment across our…
