Booking Holdings Layoffs Would Be Less Severe Than in 2020

Looming layoffs at Booking Holdings next year would be substantial but not as seismic as the 23% workforce reduction that it announced in 2020.

The company stated in a financial filing Tuesday that it expects to achieve $400 million to $450 million in annual run rate expenses from a reorganization — and one-third of that would come from layoffs. It announced last month that a reorganization would be coming.

If the proportion of layoffs to cost savings in 2025 resembles that of 2020, then 8-10% of Bookings’ workforce could be eliminated next year, although there could be significant variables at play.

Booking Holdings estimated in 2021 that its annual savings in personnel costs from the layoffs announced the previous year would be $370 million, compared to the $133 million to $150 million in savings it projects from the 2025 layoffs.

So the upcoming job cuts would be substantial — and very painful for…