<![CDATA[Airbnb reportedly laying off 25 percent of its workforce]]> https://usagag.com/2020/05/05/airbnb-reportedly-laying-off-25-percent-of-its-workforce/ Tue, 05 May 2020 20:02:06 +0000 hourly 1 https://usagag.com Airbnb reportedly laying off 25 percent of its workforce Airbnb is reportedly laying off nearly 2,000 employees due to the coronavirus pandemic — effectively slashing its headcount by 25 percent.

The 1,900 workers axed by the home-sharing startup will receive a four-month pay package, as well as accelerated equity vesting and health insurance for a year, sources familiar with the matter told Reuters.

CEO Brian Chesky informed staff of the layoffs in a Tuesday afternoon all-hands call, according to The Information, which first reported the news.

In a memo to employees obtained by TechCrunch, Chesky said that the layoffs will impact internal product groups including Transportation and Airbnb Studios. He described the staff cuts as “mapped to a more focused business.”

Airbnb in late March suspended all its marketing activities to save $800 million in 2020, and informed workers that its founders will take no salary for the next six months while top executives will take a 50 percent pay cut.

With Post wires

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