(Reuters) -Online travel agency Booking.com could cut jobs as part of an overhaul of its organizational structure, it said on Saturday.
The company, a unit of Booking Holdings (NASDAQ:), said in an emailed statement that it was in the early stages of the review process and no final decision had been made.
“This is a difficult but necessary proactive step to ensure Booking.com remains agile in a highly competitive industry and continues to drive customer-centric innovation at a rapid pace,” the company said in the statement.
At the end of 2023, Booking Holdings employed around 23,600 people, according to its annual report, which did not include figures for Booking.com.
Booking Holdings said in a filing with the U.S. Securities and Exchange Commission on Friday that it expected to provide more details about the timing and likely impact on employees and finances of the reorganization “in due course.”
A company spokesperson said the review specifically affected Booking.com and not its other brands, such as Priceline, Agoda, Kayak and OpenTable.
The changes come just days after Booking Holdings posted a 13.6% increase in operating expenses for the third quarter.
“We believe these efforts will improve operational cost efficiency, increase organizational agility and free up resources that can be reinvested in further improving our offering to both travelers and partners,” the statement said.
Booking Holdings added that it would also modernize processes and systems and optimize procurement as part of the organizational changes.
