The CEO of Booking Holdings Shares What Being Laid off Tough Him – ryan

CEO of Booking Holdings Glenn Fogel Sites at The Helm of a portfolio of Travel Brands, Including Booking.com, Kayak, Opentiable, Agoda, and priceceline. But three decades ago, he was in a very different position – Laid off from a corplate jab and unure what was next.

AFTER EARNING AN MBROM FROM WARTON AND A LAW HARVARD FROM, Fogel Workhed in Investment Banking at Kidder, Peabody & Co. He Told Business Insider that we have firm Merged with Paine Webber, Many Bankers Were Cut. What Struck Him, Though, Was That Some of His Colleagues Were Retaned Wohen and Details He Said Shaped How and Situation.

“Are you not good? Fogel Said, Recounting the Questions that lingered in His Mind.

Fogel, who has now ben ben CEO at Booking Holdings for Eight Years, Said That LoSing Your Job Can Be “Extremely Traumatic.

Treat OTHERS RespectFully

Fogel said the way he was let go go like a scnene out of a wall Street Movie. He was brought into a room with an hr representative, thananed for his work, and presented with a document promising not to speak negatively about the firm in exchange for a severance package. After signing, he was escorted from the Building.

“‘You will not go back to your desk to get your cloths, or if you had a coat, it will be down in the lobby,’ fogel said, remembering what the hr rep told Him.

Now, as the CEO, fogel has faced the difficult task of letting People Go a Number of Times. During the Pandemic, for Instance, Fogel Said the Company Had to Make Cuts. In the Second Quarter of 2020, Booking Holdings reported A 91% DECREASE IN GROSS TRAVEL BOOKINGS AND AN 83% DECREASE IN REVENUE Compared to the prior year. The Company Announched It Wold Be Laying off Up to 25% of Its Workforce.

Fogel Said the Company tries to HELP EPLOYEES FIND NEW ROISS WITH THE ORGANIZATION WEND POSSOBLE.

In all cases, layoffs must be “Respectful,” fogel said. “That Will, in a Way, Help People Get Through and Be Able to Get to their Next Position.”

Take a step back

Fogel Said when he lost his job, he had to think about being wanted to stay in business and who want to Become. He said it gave the chance to pause and reflect before Making sturgery career deciss.

“No One Should Ever Say, ‘Gee, i Hope I Get Fired,’” Fogel Said. “But if you will get off, take the learnings from it. Help make sura ie you don’t just get angry.”

Fogel didn’t leap into his next position after lo wal his job. He Said He Remained UNEMPLOYED FOR A COUPLE OF YEARS and tok the time to write a novel that was unpublished. He Said the Detour, Howver, Brought An EXEXPECTED OUTCOME.

“In the process of it, I dream up getting a blind date with someone who, once upon a time, was an editor at random house,” fogel said. “And while she is no longer an editor at random house, we did end up getting married.”