The world’s dominant online travel agent, will restructure its business and shed 25% of staff by the end of this year due to the impact of COVID-19.

Up 4500 staff could lose their jobs, though final numbers are still being worked through, according to a US Securities and Exchange Commission filing by parent company Booking Holdings.

“Booking.com is in the process of consulting with its works councils, employee representatives and other relevant organizations where applicable regarding the intended reduction in force and related cost reduction and restructuring actions,” the statement said.

“As the Company consults with works councils, employee representatives and other organizations regarding its intentions, the Company expects to develop more clarity on the timing, the number of affected employees, financial impact and other aspects of the contemplated cost reduction actions.

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