Coronavirus makes Airbnb cut off 25% of staff as travel restrictions are still in force.
Yesterday, CEO Brian Chesky addressed a letter to his worldwide employees, saying that the business took a hard hit. He expects the revenue for 2020 to be half of the 2019 one - $4.8 billion. Approximately 1,900 worldwide employees will be cut off, from a total of 7,500. Investors chipped in and gathered $2 billion to provide liquidity and preserve as much as possible from the company.
Chesky believes that the company will recover completely, but the changes made now are not temporary. To keep the clients satisfied even during these times, they were allowed to cancel reservations without fees and provided financial assistance to hosts. Analysts think that part of that $2 billion went on funding these efforts.
Airbnb will provide one year of health insurance to American employees, while the international employees will receive it until the end of the current year. Also, Airbnb affords to pay up to 14 weeks to employees, and an extra week for each year spent in the company.
Moreover, the company postponed its 2020 IPO indefinitely. Delayed are also the investments in the hotelier industry and flights.
See the difference when trading with CAPEX.com by accessing elite features:
- Stellar custom service
- Powerful WebTrader platform and mobile app
- High-end integrated trading tools
- Full license and regulation from top regulators
Sources: edition.cnn.com, bbc.com, techcrunch.com
Los usuarios / lectores no deben confiar únicamente en la información presentada aquí y deben hacer su propia investigación / análisis leyendo también la investigación subyacente real. El contenido adjunto es genérico y no tiene en cuenta las circunstancias personales, la experiencia de inversión o la situación financiera actual.
Por lo tanto, Key Way Investments Ltd no aceptará ninguna responsabilidad por las pérdidas de los comerciantes debido al uso y el contenido de la información presentada en este documento. Rentabilidades y predicciones pasadas no garantizan resultados futuros.