According to the Securities and Exchange Commission (SEC) filing, Booking Holdings (BKNG.US), the online travel company, announced on Friday that it expects to lay off employees as part of a broader business transformation. The company did not disclose how many jobs would be affected, but stated that more details on timing, impact on employees and finances are expected to be provided at the "appropriate time."

Data shows that as of the end of 2023, Booking had approximately 23,600 employees. In a filing submitted to the SEC, the company stated: "We believe these efforts will increase operational cost efficiency, improve organizational flexibility, release resources, and further enhance our services to travelers and partners." The company also added that as part of the organizational transformation, it will modernize processes and systems, and optimize procurement.

In its latest financial report released at the end of October, Booking reported a 9% year-on-year increase in Q3 revenue to $8 billion; room nights booked increased by 8% year-on-year to 0.299 billion, exceeding Wall Street estimates and the company's own guidance; total travel bookings, including taxes and fees, were $43.4 billion, compared to market expectations of $41.4 billion; adjusted earnings per share were $83.89, while market expectations stood at $77.27. Additionally, the company's total operating expenses for the third quarter were approximately $4.815 billion, an increase of around 14% year-on-year.