371–380 of 936 posts
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…
Earlier quoted context omitted.
I first misread it as "14 months" (as usually you count in months), but it was way out of bounds.
It's really strange to me that companies in the US can just determine how much severance they're "willing" to pay. Why is it even up to them?
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…
I think it's quite obvious that tourism isn't going to recover back to 100% where they were in 3 months, no... Note that '100%' includes the growth prospects that Airbnb still had in January 2020. 'startups' like airbnb hire for growth. 25% workforce cut is roughly the growth prospects (20-30% per year) that airbnb had last year. So no, that recovery won't come in just a few short months. For one because there's stil…
I wonder how this is or will impact the real-estate market? Are enough people going to foreclose without interested buyers that the market takes a plunge?
Earlier quoted context omitted.
"Airbnb will also provide 12 months of health insurance through COBRA" That just means that it is available to you -- not that they are going to subsidize it.
Anyone who loses health insurance due to losing their employment (even if they voluntarily resign) is legally allowed to buy COBRA for 18 months. I think they are paying for it, otherwise this would be a fairly meaningless statement since the employer isn't involved with COBRA at all and that's less eligibility than any employee would have.
Earlier quoted context omitted.
"Airbnb will also provide 12 months of health insurance through COBRA" That just means that it is available to you -- not that they are going to subsidize it.
Anyone who loses health insurance due to losing their employment (even if they voluntarily resign) is legally allowed to buy COBRA for 18 months. I think they are paying for it, otherwise this would be a fairly meaningless statement since the employer isn't involved with COBRA at all and that's less eligibility than any employee would have.
Earlier quoted context omitted.
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…
> This is catastrophic for Airbnb. They have a functional system. If they can maintain it going on the cheap, they can pull themselves back up. Still, this gives times for alternatives to come and drink their milkshake.
Wired published an article about this effect in London [1] and I've seen price drops as much as $500 for condos in the downtown core of Toronto on Zillow already.
Earlier quoted context omitted.
I first misread it as "14 months" (as usually you count in months), but it was way out of bounds.
It's really strange to me that companies in the US can just determine how much severance they're "willing" to pay. Why is it even up to them?
the UK is one week's pay for every year, but with a maximum of £538/week and a maximum of 20 years for length service.
given that a software engineer who's been at AirBnB for two years is going to get 16 weeks of pay and probably makes _at least_ 180k/year, they're probably getting around $55k.
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…
That's roughly equivalent to what anyone in France would get if they get fired
However it is hardly comparable as unemployment benefits would kick in (on average 72% of your previous salary after taxes, maximum duration 24 months with decreasing amount). For instance if you worked 3 years and your annual salary was 80k, you could get a benefit of 57k over 12 months.