In a memo to staff today, CEO Brian Chesky said Airbnb’s 2020 revenue is expected to be less than half of what it was last year.
Refocusing its efforts for a travel ecosphere that will be dramatically and permanently reshaped by the coronavirus pandemic, Airbnb plans to lay off almost 1,900 employees, or about 25% of its workforce—a substantial downsizing for what was seen as one of the world’s most valuable startups only a few short months ago.
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