Booking.com parent to cut jobs as part of reorganization plan

(Reuters) -Online travel giant Booking Holdings (NASDAQ:) said on Friday it expected to cut jobs as part of broader changes to its businesses, which also aim to reduce real estate expenses.

Booking Holdings, which owns brands like Booking.com and Kayak, did not disclose how many jobs would be affected but said it expected to provide more details on timing, likely impact on employees and financials “in due course”.

The changes come only days after the company posted a 13.6% jump in operating expenses for the third quarter.

“We believe these efforts will improve operating expense efficiency, increase organizational agility, free up resources that can be reinvested into further improving our offering to both travelers and partners,” it said in a filing with the U.S. Securities and Exchange Commission.

Booking Holdings added it would also modernize processes and systems and optimize procurement as part of the organizational changes.