Airbnb Inc is laying off 25% of its workforce due to the coronavirus pandemic, impacting nearly 1,900 employees of the home rental startup, two sources familiar with the matter told Reuters.
The employees will receive a four-month pay package, accelerated equity vesting and health insurance for a year, one of the sources said.
The company is expected to update employees about the decision in a meeting today, the source added.
Airbnb in late March suspended all its marketing activities to save $800 million in 2020, and informed workers that its founders will take no salary for the next six months while top executives will take a 50% cut.
Reuters
The Italian government, led by Prime Minister Giorgia Meloni, is preparing to introduce a new package of security measures following violent clashes during a protest in Turin last Saturd...
A US stealth warplane has shot down an Iranian drone that approached an American aircraft carrier in the Arabian Sea, according to a statement from the US military. The incident occurred...
Updated 1230
Free Childcare Lifted Incomes but Pushed Poverty Line Higher, Central Bank Finds: Free childcare has driven a surge in female employment and household incomes since 2014,...
Updated 1300
Momentum warns against compensating illegal outdoor structures after Storm Harry: Momentum has urged authorities to exclude illegally placed outdoor furniture from eligib...
Updated 1300
The European Parliament dedicated a special plenary session marking the International Holocaust Remembrance Day and the liberation of the Auschwitz-Birkenau concentration...
The European Parliament and the Council have reached an informal agreement on new EU rules aimed at strengthening protections for retail investors, improving access to quality financial ...
Libya plans to boost its natural gas production in the next five years to have more supply available for export to Europe by early 2030, National Oil Corporation Chairman Massoud Suleman...
Italy’s unemployment rate fell to 5.6% in December, marking the lowest level recorded since the start of comparable data in 2004, according to provisional figures released by the nationa...
Vivian continues to widen its portfolio with the announcement of new representation agreements with worldwide R&D pharmaceutical companies. “These latest agreements crown a very succ...
Two local analysts have cautioned that any attempt by EU Member States to block or restrict the passporting of crypto-asset service providers (CASPs) authorised under the Markets in...
Employers are increasingly realising the benefits of incorporating environmental, social and governance (ESG) considerations into their business strategies as opposed to treating ESG as ...
Vivian has entered into a distribution agreement with worldwide R&D pharmaceutical company Novartis Pharma Services AG, a move that continues to reflect Vivian’s established reputati...
A US stealth warplane has shot down an Iranian drone that approached an American aircraft carrier in the Arabian Sea, according to a statement from the US military. The incident occurred...
A significant explosion struck the southern Iranian port city of Bandar Abbas earlier today, sending shockwaves through the region. The initial blast occurred in an eight-storey building...
Venezuela’s interim president, Delcy Rodriguez, has begun shaping her new government following the ouster of Nicolas Maduro. On Monday, Rodriguez appointed several cabinet members. She m...
Venezuela transported gold worth almost 4.14 billion Swiss francs ($5.20 billion) to Switzerland during the early years of the leadership of ousted President Nicolas Maduro, customs data...
KYIV, Ukraine – Ukraine’s energy infrastructure has suffered its most devastating assault of the year, as Russia unleashed a record number of ballistic missiles and drones in a coordinat...
The attacks hitting a miners' bus in Pavlohrad in the Dnipropetrovsk region, and a maternity hospital in Zaporizhzhia, come as Ukraine's president announced trilateral peace talks in the...
