Airbnb to halt all marketing, most hiring as losses mount: The Information

News March 28, 2020 No Comments

Airbnb to halt all marketing, most hiring as losses mount: The Information

REUTERS: Airbnb plans to halt all of its marketing, pause most hiring, and likely withhold employee bonuses as it tries to conserve cash amid a slide in bookings, CEO Brian Chesky told employees in a video conference call, The Information reported on Friday.

When asked about layoffs, Chesky told employees that nothing is off the table, the report https://bit.ly/39uYLRn said, citing a person familiar with the matter.

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The home rental start-up held a phone meeting with bankers on Wednesday to discuss extending an existing US$1 billion debt facility as it grapples with a slowdown due to the coronavirus, Reuters had reported.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Maju Samuel)

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