The Fair Pension Booking Foundation is launched to protect employees’ pension rights
The independent organisation aims to collectively represent workers involved in the pension dispute and to promote transparent solutions for the group companies where these have not yet been finalised
Utrecht (Netherlands). The Fair Pension Booking Foundation has been established in the Netherlands; it is an independent, not-for-profit organisation set up to represent current and former employees of the Booking.com regarding pension rights in the Netherlands. The initiative follows years of litigation culminating in rulings by the Dutch courts, which confirmed the obligation for Booking.com B.V. to join the sector-wide pension fund for the tourism industry (PGB). This case has already had a significant financial impact on the group and continues to attract interest from a legal, social security and corporate governance perspective. The Foundation aims to provide collective representation for employees, to facilitate dialogue with all parties involved, and to promote a transparent and balanced solution for the group’s companies that have not yet had their pension arrangements finalised.
The case has interesting implications even beyond the Dutch context. Italia is one of Booking.com’s most important markets: according to industry estimates, Italian accommodation providers pay the platform over one billion euros in commission each year, contributing significantly to the group’s financial results.
This case raises important issues for the business world and industrial relations: the application of social security legislation to multinational companies, corporate social responsibility, governance, human capital management and the protection of workers in international organisations with complex corporate structures.
