Airbnb to Slash 25 Percent <br />of Its Workforce The home-sharing company confirmed <br />the cuts to CNBC, who report almost <br />1,900 will lose their jobs. CEO Brian Chesky, <br />via company memo CEO Brian Chesky, <br />via company memo Chesky adds that Airbnb will need <br />to adjust with world travel being <br />changed due to the coronavirus. In his note, he explained that affected U.S. workers <br />will receive base pay for a length of 14 weeks. For each year they were employed, <br />there will be an extra week of payment. Fired American workers will also <br />get a year of healthcare coverage. The job cuts come a month after Airbnb <br />said it would suspend bonuses for this <br />year and implement a hiring freeze. According to CNBC, COVID-19's impact on <br />the travel industry has also led the <br />company to halt marketing. Before the pandemic, the San Francisco-based <br />business had discussed going public.
