Citing revenue declines, Airbnb cuts 25% of workforce

Post by coopsmgoops » Wed, May 06, 2020, 6:04 AM UTC

sytelus wrote: post #717

keiferski wrote: post #10

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…

Isn't there much better way? Many big cities are projected to start opening up in June. I would expect life coming back to normal around August end. So that's basically 4 months. Why not just keep paying instead of doing severance and lose all these well-trained talent? If you are doubtful if 4 months will be enough, you can still offer option of continued employment at 50% or 75% pay? I feel move like this tarnishes…

Post by JSavageOne » Wed, May 06, 2020, 6:04 AM UTC

cletus wrote: post #514

I'm kind of surprised it took this long, honestly. It does suck if you're one of those affected so you have my sympathy if you're one of those. On the bright side, at least by US standards, this does seem to be pretty generous. That aside, if this whole pandemic manages to kill or mortally wound AirBnB, I won't be upset. What AirBnB does to cities, neighbourhoods and the long-term rental market is atrocious and it ne…

Post by KorematsuFred » Wed, May 06, 2020, 6:09 AM UTC

keiferski wrote: post #10

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…

Post by wdb » Wed, May 06, 2020, 6:10 AM UTC

keiferski wrote: post #10

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…

Post by adrianN » Wed, May 06, 2020, 6:15 AM UTC

manigandham wrote: post #732

adrianN wrote: post #729

Earlier quoted context omitted.

Yeah and I could become a rock star if I started playing the guitar. Getting loans is hard, especially if you're one of the working poor. Starting a company that doesn't die after a few years is harder. When you're one of the 40% of Americans who can't cover an unexpected $400 expense, if you company fails you're fucked. The social safety net in the US is a joke.

Yes, it's a trade-off. Less regulation and more freedom and flexibility at the cost of more social risk and personal responsibility. That's the American way. I was simply stating that truth, not defending it nor saying other realities can't exist. But there is always a trade-off. What part of that is so controversial? Perhaps things have changed and the balance needs to be shifted now. That's a great discussion to ha…