Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The online accommodation booking platform Booking.com has announced that a quarter of its staff will be cut due to the COVID-19 pandemic. Between 4,000 and 5,000 employees out of a total workforce of 17,500 worldwide will lose their jobs. Details of affected jobs and countries will be announced 'in the coming weeks and months. In the European Union, job cuts are already certain at the group's headquarters in Amsterdam. The COVID-19 crisis has devastated the travel industry, and we continue to feel the impact with travel volumes remaining significantly reduced,' Booking.com said in a press release. Booking.com is following the announced reorganisations of other online platforms such as Airbnb and TripAdvisor, which have also announced plans to lay off approximately 25% of their workforce.
Eurofound (2020), Booking.com, Internal restructuring in World, factsheet number 101421, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101421.