BKNG · 10-Q · 2026Q3 · Full report

Transformation Program Savings

Booking Holdings Inc. · 2026-11-03 · Importance 68 · Surprise 58 · No source text

The Transformation Program generated approximately $250 million in savings in 2025 and enabled approximately $550 million in annual run-rate savings by year-end 2025. In the second quarter of 2026, the company raised its expected annual run-rate savings to approximately $650 million, with most incremental savings above the $550 million level expected in 2027. Program restructuring costs and accelerated investments are expected to be less than one times expected annual run-rate savings and largely incurred by the end of 2027. Employee headcount was approximately 25,850 at September 30, 2026, up 4% year over year.

Key facts

• In Q2 2026, Booking Holdings increased expected annual run-rate Transformation Program savings to approximately $650 million. source
• Transformation Program restructuring costs and accelerated investments are expected to be largely incurred by the end of 2027 and are estimated in aggregate at less than one times expected annual run-rate savings. source
• The Transformation Program generated approximately $250 million in savings in 2025 and enabled approximately $550 million in annual run-rate savings by the end of 2025. source
• Booking Holdings expects most incremental Transformation Program savings above the approximately $550 million annual run-rate level enabled at end-2025 to be realized in 2027. source
• Transformation costs decreased 78.8% in Q3 2026 and 55.5% in the first nine months year over year, primarily due to lower employee termination benefit costs. source
• Booking Holdings began implementing organizational changes under its Transformation Program in Q4 2024. source

Impact estimates