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Citing revenue declines, Airbnb cuts 25% of workforce

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

#381

Post by r00fus »

uptown wrote: post #247
speby wrote: post #230

Earlier quoted context omitted.

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.

FYI - They're already gone.

Jeebus how is this possible - is our supply chain that fragile that things like hand sanitizer (that you can make with alcohol + aloe gel) and freezers run out?

Why is there no increased demand-driven supply on these things?

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

#382

Post by r00fus »

BlueDingo wrote: post #369
r00fus wrote: post #353

Earlier quoted context omitted.

So are payroll taxes, and they're not "up to the company". We can see from the priorities how workers have been left out of the decision making for decades in the US.

Aren't they though? My understanding is that they pay the payroll taxes on behalf of the employees but I think they aren't required to, it's just customary. If you're an independent contractor you pay it yourself.

Contractors aren't payroll, they're technically AP/suppliers. If you do payroll, you pay taxes - it's the law.

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

#383

Post by saadalem »

At least they aren't doing it the wrong way, like when some big companies need to clean house a bit, they move the office to a new location quite distant from the current one. In the process they reduce the office size from 50,000 seats to 30,000 because they've estimated that amount of people will resign rather than endure a 4 hours commute... But officially :

> totally you still have your job if you want, we are not laying you off, but I need you in the office everyday... Or you could resign if you don't like the new location...

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

#384

Post by drstewart »

atomic77 wrote: post #377

While I don't want to seem like I'm wishing unemployment or hardship on anyone, the implosion of Airbnb is already causing a rent price correction that was sorely needed in many cities that have become severely unaffordable. 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. https://www.wired.co.uk/article/…

It's pretty bold to claim any and all price drops are directly attributable to Airbnb when in the middle of a recession causing pandemic that is heavily impacting normal housing/rental market activity.

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

#385

Post by sachdevap »

nateberkopec wrote: post #368
user5994461 wrote: post #152

Predicted that weeks ago. AirBnb is super bloated, they have a similar amount of employees as the other major travel groups but only serve a fraction of the products and customers https://thehftguy.com/2020/03/23/will-airbnb-go-bankrupt-and... Good to hear that they are giving a decent severance package.

AirBnb was doing about $4 billion in revenue per year before the crash with 7,500 employees. That's about $500k revenue per employee, which is on the high end of tech industry standards. How is that bloated?

Is revenue per employee some sort of standard measure in the industry?

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

#386

Post by anamexis »

MereInterest wrote: post #363
ghaff wrote: post #326

Earlier quoted context omitted.

Larger companies tend to prefer weekly/biweekly as you don't get that month-length variance. On the other hand, many employees don't like it as much because their biggest bills tend to be paid monthly so they'd prefer their paychecks to be aligned.

I've had it both ways, and prefer it biweekly. That way, I can build my budget based on 2 pay periods, and have the occasional 3rd paycheck in a month go immediately toward savings.

Same for me. It feels like getting a bonus two months a year.

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

#387

Post by dan-robertson »

ryantgtg wrote: post #323
andy_ppp wrote: post #299

Earlier quoted context omitted.

And slight more that a quarter of a year seems more to me again...

But those all seem pale next to 98 days.

I get paid monthly and have a yearly salary so three and a half months or slightly over a quarter of a year are durations I can more easily convert to an idea of money (or time), which I think is the point. If I hear 14 weeks or 98 days I can’t easily (ie naturally) convert it into terms I can think about.

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

#388

Post by hilbertseries »

actuator wrote: post #96
lucasmullens wrote: post #86

Earlier quoted context omitted.

From some other comments it sounds like they're RSUs, not options.

Why do you need to buy the RSUs then? Don't you already get them once they vest.

I think there was a 1 year vesting cliff, so if you get laid off before a year you get your rsus prorated instead of getting nothing.

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

#389

Post by kippinitreal »

nateberkopec wrote: post #368
user5994461 wrote: post #152

Predicted that weeks ago. AirBnb is super bloated, they have a similar amount of employees as the other major travel groups but only serve a fraction of the products and customers https://thehftguy.com/2020/03/23/will-airbnb-go-bankrupt-and... Good to hear that they are giving a decent severance package.

AirBnb was doing about $4 billion in revenue per year before the crash with 7,500 employees. That's about $500k revenue per employee, which is on the high end of tech industry standards. How is that bloated?

Is that $4 billion in bookings or only their take? If it's the latter, then their "real" revenue per employee is much lower. For marketplaces it seems disingenuous when they use the top-line number for revenue given that they can only increase their rake so much.

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

#390

Post by booi »

sachdevap wrote: post #385
nateberkopec wrote: post #368

Earlier quoted context omitted.

AirBnb was doing about $4 billion in revenue per year before the crash with 7,500 employees. That's about $500k revenue per employee, which is on the high end of tech industry standards. How is that bloated?

Is revenue per employee some sort of standard measure in the industry?

In general yes but obviously nuanced. Gives you a sense of scalability
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