Airbnb says it's cutting about 25% of its workforce in one of the largest layoffs to hit Silicon Valley as a result of the coronavirus outbreak. The pandemic has cut the company's anticipated revenue in more than half, CEO Brian Chesky said.
remains untold. Airbnb, which employed 7,500 before the cuts and was last valued at $31 billion, is the latest high-profile tech company to buckle in the face of the virus.
In the meantime, many of Airbnb's 650,000 hosts in the U.S. have seen their income plunge. Nearly half of Airbnb hosts lean on their rentals to pay their monthly rents and mortgages, with some saying a $250 million host relief fund and other measures the company has taken to assist hosts aren't enough.
Chesky says he expects people to start traveling closer to home before embarking on far-flung destinations. He told NPR that Airbnb intends to focus on the company's"experience" services that link travelers with things to do like cooking classes and city tours. Chesky also expects people to stay for longer periods in Airbnb rentals if their employers allow them to work from anywhere they want.
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Airbnb Lays Off 25% Of Workforce, Nearly 1,900 JobsI’m a San Francisco-based reporter covering breaking news at Forbes. I’ve previously reported for USA Today, Business Insider, The San Francisco Business Times and San Jose Inside. I studied journalism at Syracuse University’s S.I. Newhouse School of Public Communications and was an editor at The Daily Orange, the university’s independent student newspaper. Follow me on Twitter rachsandl or shoot me an email rsandlerforbes.com.
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Airbnb Lays Off 25% Of Workforce, Nearly 1,900 JobsI’m a San Francisco-based reporter covering breaking news at Forbes. I’ve previously reported for USA Today, Business Insider, The San Francisco Business Times and San Jose Inside. I studied journalism at Syracuse University’s S.I. Newhouse School of Public Communications and was an editor at The Daily Orange, the university’s independent student newspaper. Follow me on Twitter rachsandl or shoot me an email rsandlerforbes.com.
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Airbnb to lay off 25 percent of its workforceAirbnb will lay off 25% of its workforce, or 1,900 employees, the company says.
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Airbnb expects revenues to be slashed by more than half this year, CEO says - Business InsiderAirbnb expects 2020 revenues to be less than half of what they were in 2019, even once travel resumes, because of fallout from the COVID-19 pandemic.
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Airbnb layoff memo details severance and employee assistance - Business InsiderRead the full memo Airbnb CEO Brian Chesky just sent to staff announcing 1,900 job cuts. It lays out severance details and which teams are getting hit the hardest.
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Airbnb is laying off 25% of its employeesAirbnb is laying off about 25% of its workforce. CEO Brian Chesky told employees the business has been 'hit hard' by Covid-19's effect on the travel industry.
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