Airbnb to lay off 1,900 employees

Marco Green
May 6, 2020

Airbnb plans to lay off almost 1,900 employees, or about 25% of the company, a person familiar with the plans confirmed to CNBC.

"We are collectively living through the most harrowing crisis of our lifetime", Mr Chesky wrote. Airbnb's business has been hit hard, with revenue this year forecasted to be less than half of what we earned in 2019.

The cuts are needed for the San Francisco-based company to survive until people start travelling anew, Airbnb co-founder and chief executive Brian Chesky said in a blog post.

The Information first caught word of the layoffs Tuesday morning, and Chesky was expected to follow up the note with a live teleconference with employees at noon, Pacific Time.

"Teams across all of Airbnb will be impacted", Mr Chesky said.

Airbnb also recently announced a new cleaning protocol that it is asks hosts to adhere to in order to make travellers feel more secure.

Mr Chesky said departing employees will receive at least 14 weeks of their base pay.

The Wall Street Journal reported in February that Airbnb lost $322 million over the first nine months of a year ago, after reporting a $200 million profit in 2018, as it ramped up spending.

Other reports by Click Lancashire

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