Airbnb Cuts 25% of Employees as Business Is "Hit Hard" Amid Pandemic

Airbnb is cutting nearly 25 percent of its workforce in a round of layoffs, as announced in a letter to employees from CEO and co-founder Brian Chesky on Tuesday. The company's business has been "hit hard" in recent months, with Chesky already projecting this year to generate less than half of the revenue from 2019."We are collectively living through the most harrowing crisis of our lifetime, and as it began to unfold, global travel came to a standstill," Chesky stated. While the company has alr...