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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Booking Holdings Inc.    BKNG

BOOKING HOLDINGS INC.

(BKNG)
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Booking : com cuts workforce by thousands as travel atrophies

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08/04/2020 | 11:50am EDT

Booking.com is laying off a quarter of its workforce — more than 4,000 people — with the global pandemic snuffing out travel.

Layoffs will begin next month and run through the end of the year, according to parent company Booking Holdings Inc.

Booking Holdings, based in Norwalk, Connecticut, also owns the restaurant reservation company OpenTable and Priceline.com.

The number of room reserved at Booking.com during the first quarter of this year tumbled 43%, to 124 million.

The company warned investors in May to brace for worse in the second financial quarter, the results of which are due Thursday.

Booking.com, based in Amsterdam, is a dominant player in Europe, where it controls more than 60% of online travel bookings, according to a 2018 report from Hospitality Europe. But bookings have plummeted as travel from major markets like the U.S. and China has slowed significantly.

The number of people passing through U.S. airport checkpoints is running about 70% lower than a year ago, according to figures from the Transportation Security Administration. Travel plunged about 95% by mid-April, then rose steadily until leveling off throughout July. More than 700,000 people were screened each of the last five days, through Monday, the first time that has happened since mid-March.

The World Tourism Organization, an agency of the United Nations, said late last month that there was a 56% drop in tourist arrivals between January and May. That's about 300 million people, and $320 billion in lost international tourism receipts.

Booking.com has 17,500 employees and more than 200 offices worldwide.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News


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Financials (USD)
Sales 2020 7 582 M - -
Net income 2020 373 M - -
Net Debt 2020 145 M - -
P/E ratio 2020 156x
Yield 2020 -
Capitalization 68 454 M 68 454 M -
EV / Sales 2020 9,05x
EV / Sales 2021 5,78x
Nbr of Employees 25 000
Free-Float 64,2%
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Technical analysis trends BOOKING HOLDINGS INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 1 972,44 $
Last Close Price 1 671,71 $
Spread / Highest target 79,5%
Spread / Average Target 18,0%
Spread / Lowest Target -7,28%
EPS Revisions
Managers
NameTitle
Glenn D. Fogel President, Chief Executive Officer & Director
Robert J. Mylod Chairman
David Ian Goulden Chief Financial Officer & Executive Vice President
Jeffery H. Boyd Director
Thomas E. Rothman Independent Director
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