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Airbnb to Slash 25 Percent of Its Workforce

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Airbnb to Slash 25 Percent
of Its Workforce The home-sharing company confirmed
the cuts to CNBC, who report almost
1,900 will lose their jobs. CEO Brian Chesky,
via company memo CEO Brian Chesky,
via company memo Chesky adds that Airbnb will need
to adjust with world travel being
changed due to the coronavirus. In his note, he explained that affected U.S. workers
will receive base pay for a length of 14 weeks. For each year they were employed,
there will be an extra week of payment. Fired American workers will also
get a year of healthcare coverage. The job cuts come a month after Airbnb
said it would suspend bonuses for this
year and implement a hiring freeze. According to CNBC, COVID-19's impact on
the travel industry has also led the
company to halt marketing. Before the pandemic, the San Francisco-based
business had discussed going public.

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