Live data from Hacker News

Citing revenue declines, Airbnb cuts 25% of workforce

techcrunch.com

31–40 of 936 posts

Re: Citing revenue declines, Airbnb cuts 25% of workforce

#31
post #24

The most famous unicorn bleeds today.

Acquisition target IMO. While AirBnb bleeds, the FANGs continue to pile up cash. Google, Facebook, and Apple all have enough cash to buy several AirBnbs rn.

Yes, but instead of buying several AirBnBs, they could instead buy dozens of smaller startups that are not operating in the hospitality industry - which is going to recover much slower than most forms of B2B or B2C.

Re: Citing revenue declines, Airbnb cuts 25% of workforce

#32
post #27

Separated employees will receive 14 weeks of pay, and one more week for each year served at the company (rounding partial years up). The firm is also dropping its one-year equity cliff so that employees who are laid off with under 12 months of tenure can buy their vested options; Airbnb will also provide 12 months of health insurance through COBRA in the United States, and health care coverage through 2020 in the res…

I’m surprised they were still handing out options - don’t most later stage startups switch to RSUs? I’d hate to have to decide whether to exercise today, cliff or no cliff.

I haven't seen RSUs outside of publicly traded companies.

Re: Citing revenue declines, Airbnb cuts 25% of workforce

#33
post #3

Earlier quoted context omitted.

A lot of tech is getting hit, it seems like Airbnb is more in the spotlight

Why do people consider AirBnB tech? They are a services company with a website connecting external parties. This isn't hard tech, this is marketing. Edit: It seems people are under the impression that because you have lots of technology that is required to run your company you are a technology company. I don't believe that to be true in this day and age, tire distributors probably have more technology requirements th…

Shortest answer: because they went through YC.

Re: Citing revenue declines, Airbnb cuts 25% of workforce

#34

What isn’t commonly known is that Airbnb has one of the most biased engineering hiring practices in the industry. Chinese individuals at the company regularly share interview questions through wechat groups. Preferring to hire their own. Extremely dishonest hiring culture is pervasive through engineering. Don’t believe me? Look at their engineers on LinkedIn

[flagged]

Re: Citing revenue declines, Airbnb cuts 25% of workforce

#36
post #27

Separated employees will receive 14 weeks of pay, and one more week for each year served at the company (rounding partial years up). The firm is also dropping its one-year equity cliff so that employees who are laid off with under 12 months of tenure can buy their vested options; Airbnb will also provide 12 months of health insurance through COBRA in the United States, and health care coverage through 2020 in the res…

I’m surprised they were still handing out options - don’t most later stage startups switch to RSUs? I’d hate to have to decide whether to exercise today, cliff or no cliff.

Does anyone recall if Airbnb were one of the firms to institute more employee-friendly exercise windows? If so that takes some of the pressure off the decision.

Re: Citing revenue declines, Airbnb cuts 25% of workforce

#37
post #27

Separated employees will receive 14 weeks of pay, and one more week for each year served at the company (rounding partial years up). The firm is also dropping its one-year equity cliff so that employees who are laid off with under 12 months of tenure can buy their vested options; Airbnb will also provide 12 months of health insurance through COBRA in the United States, and health care coverage through 2020 in the res…

I’m surprised they were still handing out options - don’t most later stage startups switch to RSUs? I’d hate to have to decide whether to exercise today, cliff or no cliff.

Why would you not want optionality? Optionality always has carries an intrinsic positive value.

Re: Citing revenue declines, Airbnb cuts 25% of workforce

#40
post #27

Separated employees will receive 14 weeks of pay, and one more week for each year served at the company (rounding partial years up). The firm is also dropping its one-year equity cliff so that employees who are laid off with under 12 months of tenure can buy their vested options; Airbnb will also provide 12 months of health insurance through COBRA in the United States, and health care coverage through 2020 in the res…

I’m surprised they were still handing out options - don’t most later stage startups switch to RSUs? I’d hate to have to decide whether to exercise today, cliff or no cliff.

I thought RSUs are only given by public companies. Anyway, they would be crazy not to exercise.
Post reply on HN