Airbnb fires 25% of its employees

Airbnb unveils virtual travel experiences

On Tuesday, the short-term rental company said that around 1,900 employees will be released worldwide, out of 7,500.

“We are collectively experiencing the most excruciating crisis of our lives and, as it began to develop, global travel stopped,” said Airbnb CEO and co-founder Brian Chesky in a letter to employees.
He added that Airbnb’s business has been “hit hard” and that this year’s revenue is expected to be less than half of what the company earned in 2019. The company recently dabbled in virtual versions of its Airbnb experiences, which host hosts from over 30 countries who conduct business and range in price from $ 1 to $ 40. Experiences include online bike tours, meditating with a Japanese monk or taking Moroccan cooking classes.
Airbnb also has reported plans delayed for a Wall Street debut this year.

In the United States, Airbnb has stated that it will cover 12 months of health insurance for its employees through COBRA. In all other countries, it will cover the costs of health insurance by the end of this year.

Layoffs have spread across the economy due to the pandemic and tech companies have not been spared, with cuts and thefts in Lyft, Yap, Eventbrite e layoffs are said coming to Uber.

“I have a deep feeling of love for all of you,” Chesky wrote in the letter. “I’m really sorry. Please know that it’s not your fault. The world will never stop looking for the qualities and talents you brought to Airbnb.”

Airbnb has also successfully addressed customers frustrated with refunds and supporting its hosts, many of whom are struggling to pay off mortgages and pay bills due to coronavirus-related cancellations.
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