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

Published 03/27/2020, 06:46 PM
Updated 03/27/2020, 06:50 PM
© Reuters. FILE PHOTO: Airbnb logo is seen on a little mini pyramid under the glass Pyramid of the Louvre museum in Paris

(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:// said, citing a person familiar with the matter.

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

Latest comments

I guess airbnb isn't a wise investment at this point.
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