Breaking News

SAMA Expands CPU Cooling Lineup with A60 and A40 Series Air Coolers for Gaming and Creator PCs The Lockerstor 12R Pro Gen2 and 16R Pro Gen2 are Here! TRUSTA Highlights SSD Power Efficiency for AI Servers at OCP APAC 2025 XPG Launches VALOR NANO Compact Cases with the All-New PYMCORE SFX PSU Speedlink announces illuminated mechanical 60% gaming keyboard

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Despite Billions of Stock Buybacks, Booking Asks For Government Aid

Despite Billions of Stock Buybacks, Booking Asks For Government Aid

Enterprise & IT Apr 24,2020 0

Global travel site Booking.com drew an outcry after Chief Executive Officer Glen Fogel told newspaper De Volkskrant on April 15 that it was applying for government help, despite the fact that the company has huge cash reserves and is still paying billions of dollars to shareholders.

Booking.com, which has around 5,500 employees in the Netherlands, said it was working hard to support its employees and cope with a “decimated” travel market.

“Most major companies have announced major layoffs, but we are doing absolutely everything we can to weather the storm,” the company said. It added it may raise capital in public markets and impose a hiring freeze.

Parent company Booking Holdings Inc. has bought back $16 billion worth of stock over the past three years, according to its financial statements. Booking Holdings had $6.3 billion in cash on its balance sheet on Dec. 31, according to its annual report. It also had $7.6 billion of debt.

The Dutch government plans to tighten the rules for businesses claiming coronavirus relief. Under the country’s rescue plan, a company could ask the government to pay as much as 90% of its staff wages for three months if revenue has fallen by more than 20% due to the coronavirus.

Dutch Prime Minister Mark Rutte told members of parliament on Wednesday that companies applying for a second round of financial help from June should stop paying shareholders and forfeit management bonuses in the near future.

Netherlands mixes a strong welfare state with a liberal economic tradition and some of Europe’s lowest effective corporate tax rates.

Founded in 1996, Booking.com was acquired in 2005 by Priceline, becoming a U.S. company by law, while retaining most of its activity in the Netherlands.

Tags: Booking.comfinance
Previous Post
ASUS Unveils New ProArt PA32UCX-P and PA27UCX Displays
Next Post
LG Velvet to be Unveiled in May

Related Posts

  • SoftBank Reports $18 Billion Loss from Vision Fund

  • Panasonic Annual Profit Decreased, Tesla Battery Venture Brings Gains

  • Sony's Q4 Profit Dropped 57% on Low Image Sensor Sales

  • Sharp Cuts Full-year Profit Forecast as Virus Impacts Demand

  • Roku Says Ad Sales Growth is Slowing, Platform Sees Growth

  • Amazon Could Report Loss in Q2 As a Result of COVID-19-related Costs

  • Apple Reports High Sales Despite Coronavirus, Future Uncertainties Remain

  • Twitter Reports Small Revenue As Advertising Business Hit By Covid-19

Latest News

SAMA Expands CPU Cooling Lineup with A60 and A40 Series Air Coolers for Gaming and Creator PCs
Cooling Systems

SAMA Expands CPU Cooling Lineup with A60 and A40 Series Air Coolers for Gaming and Creator PCs

The Lockerstor 12R Pro Gen2 and 16R Pro Gen2 are Here!
Enterprise & IT

The Lockerstor 12R Pro Gen2 and 16R Pro Gen2 are Here!

TRUSTA Highlights SSD Power Efficiency for AI Servers at OCP APAC 2025
Enterprise & IT

TRUSTA Highlights SSD Power Efficiency for AI Servers at OCP APAC 2025

XPG Launches VALOR NANO Compact Cases with the All-New PYMCORE SFX PSU
Cooling Systems

XPG Launches VALOR NANO Compact Cases with the All-New PYMCORE SFX PSU

Speedlink announces illuminated mechanical 60% gaming keyboard
PC components

Speedlink announces illuminated mechanical 60% gaming keyboard

Popular Reviews

be quiet! Light Loop 360mm

be quiet! Light Loop 360mm

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

Noctua NH-D15 G2

Noctua NH-D15 G2

Soundpeats Pop Clip

Soundpeats Pop Clip

be quiet! Light Base 600 LX

be quiet! Light Base 600 LX

be quiet! Pure Base 501

be quiet! Pure Base 501

Terramaster F8-SSD

Terramaster F8-SSD

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed