Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Citing revenue declines, Airbnb cuts 25% of workforce

techcrunch.com

Post reply on HN
Print view View original

141–150 of 936 posts

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

#141

Post by francisofascii »

ping_pong wrote: post #53

I'm shocked that 2020 revenues will come in only 50% below 2019. I don't think anyone will be travelling for the bulk of this year, especially with the looming threat of potentially getting sick in a foreign country or away from your home. It will take 5+ years for them to get back the same level of inventory/hosts/customers as they had in 2019. Many hosts will foreclose on their rented properties during 2020 or conv…

Travel to cities is certainly done for a while. Travelling to rural areas might still have a chance. I have heard of families getting away to cabins in the woods where no human contact was needed. (Of course whether or not that should be allowed is a different conversation.)

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

#142

Post by renewiltord »

sokoloff wrote: post #67
airstrike wrote: post #37

Earlier quoted context omitted.

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

If you started working at Boeing exactly a year ago and were leaving today, would you rather have been granted RSUs at a notional initial value of $371.60/sh or been granted options at a strike price of $371.60/sh?

Well, yeah, that's Boeing, but if I'm going to work at a startup I want options, I want lots of them, and I want a good strike price. After all, if it's not going to do damned well next year why am I even going there?

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

#143

Post by conradfr »

_2d30 wrote: post #38
namdnay wrote: post #30

Earlier quoted context omitted.

By most American standards

What’s an example of a country where this isn’t generous?

In France "cadres" (managers, most devs etc) will still be payed for three months (while you can work another job at the same time and get double income then), plus of course all accrued vacation days, and some amount based on your seniority at the company and its activity sector.

After the three months most people will qualified for regular unemployment.

And until you start working at another company you still get healthcare from your former employer's provider.

edit: as it's weeks and not days for Airbnb I guess it's pretty similar then.

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

#144

Post by Apocryphon »

capocannoniere wrote: post #58
lacker wrote: post #12

There are going to be a lot of tough decisions for people who have to decide whether to buy their Airbnb options or lose them. I bet a lot of people at Airbnb are wishing they went public before all this.

While Airbnb is clearly going through a rough patch right now, there is a clear bull-case argument for why Airbnb will emerge stronger than it's ever been after this: - Airbnb has sufficient cash in the bank to survive the crisis. - A significant % of hotels and budget chains will not survive the crisis --> decreased competitor supply - People will be looking for budget options when traveling --> increased demand for…

Airbnb hosts converting properties into 6-month or longer term rentals --> decreased supply for Airbnb

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

#146

Post by hef19898 »

TulliusCicero wrote: post #121
namdnay wrote: post #30

Earlier quoted context omitted.

By most American standards

Where do you live that companies will give 14 weeks' severance pay to people who've only been there a year?

In defence of the parent, I read days instead of weeks initialy.

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

#148

Post by knd775 »

tempsy wrote: post #101
pedrosorio wrote: post #77

Earlier quoted context omitted.

Cutting salaries in half guarantees they lose all the top performers, and probably more than half, instead of the 5 they pick. I don't believe that is the goal.

Lyft cut salaries in addition to layoffs

Certainly not by half, though

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

#149

Post by random42 »

ProAm wrote: post #52

I called this 3 weeks [1] ago and no one believed me. Were are going to see A LOT of this the next 3-4 months as large companies experience bad quarters. These are the companies that were setup and run well (i.e. not day to day, burning stacks of money with no revenue). [1] https://news.ycombinator.com/item?id=22901720

Such an odd 'I told you so' comment in a thread about thousands losing their livelihood.
Post reply on HN