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With the global tourism industry in turmoil, Airbnb has axed one-quarter of its global workforce:
In the note, written by Airbnb CEO and co-founder Brian Chesky, the company said that 1,900 employees will be laid off, or 25.3% of its 7,500 workers. The layoffs will impact a number of internal product groups, including Transportation and Airbnb Studios, efforts that will be placed on hold, and its Hotels and Lux work, which will be “scale[d] back”…
According to Chesky’s missive, Airbnb anticipates its 2020 revenue coming in under 50% of 2019’s total; Airbnb saw around $4.8 billion in revenue last year, according to reports.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.