CEO Brian Chesky says company is facing "hard truths," including uncertainty about when travel demand will resume.
Airbnb is cutting 1,900 employees, or about 25% of its workforce, as it faces "hard truths" including uncertainty over when global travel will resume amid the coronavirus
pandemic, CEO Brian Chesky said in a memo to employees.
He added that the company's 2020 revenue is likely to be less than half of what it booked last year.
"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 said in the memo. "Airbnb's business has been hit hard."