Airbnb to lay off 1,900 employees due to COVID-19

Airbnb to lay off 1,900 employees due to COVID-19

Airbnb office
A woman talks on the phone at the Airbnb office headquarters in the SOMA district of San Francisco, California. (Photo: REUTERS/Gabrielle Lurie)

REUTERS: Airbnb Inc is laying off 25 per cent of its workforce due to the coronavirus pandemic, impacting nearly 1,900 employees of the home rental startup, two sources familiar with the matter told Reuters.

The employees will receive a four-month pay package, accelerated equity vesting and health insurance for a year, one of the sources said.

The company is expected to update employees about the decision in a meeting today, the source added.

Airbnb in late March suspended all its marketing activities to save US$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 per cent cut.

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Source: Reuters