Airbnb to halt all marketing, most hiring as losses mount: The Information

Airbnb to halt all marketing, most hiring as losses mount: The Information

Airbnb plans to halt all of its marketing, pause most hiring, and likely withhold employee bonuses as it tries to conserve cash amid a slide in bookings, CEO Brian Chesky told employees in a video conference call, The Information reported on Friday.

FILE PHOTO: Airbnb logo is seen on a little mini pyramid under the glass Pyramid of the Louvre muse
FILE PHOTO: The Airbnb logo is seen on a little mini pyramid under the glass Pyramid of the Louvre museum in Paris, France, March 12, 2019. .REUTERS/Charles Platiau/File Photo

REUTERS: Airbnb plans to halt all of its marketing, pause most hiring, and likely withhold employee bonuses as it tries to conserve cash amid a slide in bookings, CEO Brian Chesky told employees in a video conference call, The Information reported on Friday.

When asked about layoffs, Chesky told employees that nothing is off the table, the report https://bit.ly/39uYLRn said, citing a person familiar with the matter.

The home rental start-up held a phone meeting with bankers on Wednesday to discuss extending an existing US$1 billion debt facility as it grapples with a slowdown due to the coronavirus, Reuters had reported.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Maju Samuel)

Source: Reuters

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