251–260 of 936 posts
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Monthly vesting without a year one cliff is not really done, AFAIK. I also don't think that there is a lot of wiggle room for negotiated severance terms. But sign on bonuses and 200k base pay could certainly be on the table.
It happens at both F & G in FAANG.
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By most American standards
"In many countries, the severance pay is a lump sum that increases with the employee’s tenure in the company and their wage level. In the Czech Republic, Denmark, Hungary, Italy, Lithuania, Poland, Portugal, Slovakia and Spain, employees with service of up to one year are entitled to severance pay (in most cases one month’s pay), while in Luxembourg employees have to have a minimum of five years within the organisati…
Now if they would be firing say 30-50% the rules might be different, this ain't part of any written contract, but they did so for all folks fired for last 10 years. But that's probably the best package I've ever heard of, regardless of location.
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Airbnb hosts converting properties into 6-month or longer term rentals --> decreased supply for Airbnb
And, hopefully, just hopefully, governments will actually step in and stop the supply from going back to AirBnB, helping alleviate some of the housing crisis in their country (I know AirBnB is a huge issue in Ireland, and several of my Irish friends are praying it fails to force all those apartments and houses back on the market; I am myself, as I'm possibly moving there this fall for a masters.)
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That's why when a yet another aspiring startup wants to hire me, I ask for a high sign on bonus as an insurance, monthly vesting cycle, at least 200k in base pay and high severance upon termination. Never been given that, but I don't regret: looking back, all those "just 1 year till IPO" companies are underwater.
Monthly vesting without a year one cliff is not really done, AFAIK. I also don't think that there is a lot of wiggle room for negotiated severance terms. But sign on bonuses and 200k base pay could certainly be on the table.
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I would too, but the thing holding me back is if the shit hits the fan, and I need to do something like buy a freezer to store extra food, I can't conveniently do that in an Airbnb. And if I somehow get sick, I'm at the mercy of the doctors and hospitals in this foreign land. I'd rather be in my own home with the doctors and hospital system that I'm familiar with. I think more than 50% of people feel this way, which…
If shit hits the fan, there won't be freezers to be bought... they'll get panic purchased instantaneously and, if you did manage to find one for sale, expect it to cost multiple times what you otherwise might have paid.
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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…
I honestly don't know what fraction of AirBnb's business still consists of indies renting out rooms to vacationers for short-term stays. But that market is simply hosed for the foreseeable future, if not forever. Complete lack of enthusiasm from guests and hosts alike. Driving strangers around in your car or having them stay in your home is never again going to seem like the great idea that it once did.
It feels bad that this happened to one of the companies with a very good engineering culture. The stuff they have put out in the open either on GitHub or through their blogs is a testament to that. I think any company will be lucky to have these folks.
Good engineering culture...? Airbnb is a simple CRUD app...it’s hardly a shining example of hard deeply technical engineering problems that are fun and interesting to work on.
If Airbnb is willing to pay 14 weeks (3.25 months) of severance, they must believe this is going to go on significantly longer than that. Or they're using this as an opportunity to cut underperformers at the same time. Because if they believed things would start to recover by fall, wouldn't you just pay the people as normal and make a judgement call around then? You're spending the payroll money either way -- 14 week…
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Tell us why you think 7,500 employees is too high, in order to implement, maintain, and grow an online lodging and experiences marketplace in 191 countries.
hotels.com managed just fine with only 500 employees in their headquarters.