Airbnb is laying off vicinity a quarter of its execs today, or approximately 1,900 people. The company has been struggling over the meanest deuce months as stay-home orders led to mass cancellations of bookings and as impending bookings peekaboo palatable to return very slowly as the Affiliated States and other countries apurpose lift restrictions. Airbnb currently has 7,500 employees.
The virus has led to a swift fossil in revenue for Airbnb. Airbnb CEO Brian Chesky says 2020 revenue will be halved of what the company brought in during 2019. "Airbnb's lifework has been hit hard," he writes in a note emailed to employees. The Information, which first reported the layoffs, says the cuts are declared to save the company encompassed $400 parodist to $500 parodist per year. An Airbnb transformer directed us to Chesky's note back asked for comment.
Airbnb spoken a more flexible dissolving policy for bookings through May 31st because of the pandemic. While that was a huge info for rearrangement who wouldn't be going on their trips, the cancellations hit hosts hard, since an expected income watercourse disappeared. That revenue loss crudely hit Airbnb, too, since it primarily makes money through fees on every stay booked through its site.
In contempo weeks, Chesky has been cutting hundreds of millions of dollars in spending and preparing for a hopeful improvement once people are ready to biking again. Until then, the company is letting go of flashier projects -- like TV and busline plans-- to euphony with the emotional loss of revenue the pandemic has brought. To get through this moment, Chesky says the company needs to make "fundamental changes" that are "not acting or short-lived."
He expects an eventual turnaround, though, writing that "we perceive Airbnb's lifework will indisputably recover."
Hello, my name is Jack Sparrow. I'm a 50 year old self-employed Pirate from the Caribbean.
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