Airbnb plans to lay off as many as 1,900 employees, or about 25% of the company, a source confirmed to CNBC on Tuesday.
Airbnb on Tuesday said it plan to layoff as many as 1,900 employees, or about 25% of the company, a source confirmed to CNBC.Credit: Mike Cohen/ The New York Times
Airbnb plans to lay off nearly 1,900 employees, or about 25% of the company, a person familiar with the plans confirmed to CNBC., which reported the news would be broken to employees by CEO Brian Chesky in a call starting around 3pm ET. For Airbnb, these layoffs are the latest obstacle in 2020 as the coronavirus pandemic has devastated the entire travel industry. Last month,that it would institute a hiring freeze, suspend its marketing, cut executives' salary and that it did not expect to give out bonuses for 2020.
Heading into the year, the San Francisco tech company was eyeing an entry into the public markets. The company had lined up bankers to lead the offering, which would test whether Airbnb could live up to its $31 billion private market valuation from 2017. Instead, the company is raising
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