It won’t be an exaggeration to say that the COVID-19 pandemic has caused a major economic downturn all over the world. The major hit industries are travel and hospitality as the countries have sealed their borders. Recently, Expedia reported that Q2 2020 is likely the worst quarter for the travel industry. Apparently, several travel companies have been hit and Booking Holdings is one of them. Already, TripAdvisor and Airbnb have slashed their workforce by 25%.
Proposes massive layoff
Now, Booking Holdings has announced that it will layoff about 25% of its global workforce on account of the ongoing pandemic crisis. Going by the same, at least 4,000 of its 17,500 jobs will disappear. The proposed layoff will debut in September after the company is done with consulting with employee representatives, works councils, and other relevant organisations.