Airbnb to Slash 25 Percent of Its Workforce
Airbnb to Slash 25 Percent of Its Workforce

Airbnb to Slash 25 Percent of Its Workforce The home-sharing company confirmed the cuts to CNBC, who report almost 1,900 will lose their jobs.

CEO Brian Chesky, via company memo CEO Brian Chesky, via company memo Chesky adds that Airbnb will need to adjust with world travel being changed due to the coronavirus.

In his note, he explained that affected U.S. workers will receive base pay for a length of 14 weeks.

For each year they were employed, there will be an extra week of payment.

Fired American workers will also get a year of healthcare coverage.

The job cuts come a month after Airbnb said it would suspend bonuses for this year and implement a hiring freeze.

According to CNBC, COVID-19's impact on the travel industry has also led the company to halt marketing.

Before the pandemic, the San Francisco-based business had discussed going public.