The global Covid-19 pandemic has adversely affected businesses and companies like Airbnb are expecting their revenue to drop around 50% this year.
The company’s CEO, Vrian Chesky has sent out a letter to employees letting them know that they will be laying off 25% of their workforce.
Airbnb has 7,500 employees worldwide, so they will be laying off round 1,900 of these, this is being done in an attempt to cut their costs.
While we know Airbnb’s business will fully recover, the changes it will undergo are not temporary or short-lived. Because of this, we need to make more fundamental changes to Airbnb by reducing the size of our workforce around a more focused business strategy.
Out of our 7,500 Airbnb employees, nearly 1,900 teammates will have to leave Airbnb, comprising around 25% of our company. Since we cannot afford to do everything that we used to, these cuts had to be mapped to a more focused business.
You can see the full letter that was sent out to Airbnb staff over at the company’s website at the link below.