Layoff Continues: Airbnb Cuts 30% Recruiting Staff Despite Profitable 2022
The report has come as a shock for many as in February this year, the San Francisco-based firm said it is planning to expand its overall headcount in 2023.
Layoff Continues: Airbnb Cuts 30% Recruiting Staff Despite Profitable 2022
Airbnb layoff: Online hospitality major Airbnb has laid off 30 per cent of its recruiting staff even as the company reported its first profitable year in 2022, having a net income of $1.9 billion, according to various media reports.
The decision to lay off staff affected less than 0.4 percent of the San Francisco-based company's total workforce of about 6,800, according to Bloomberg. The report has come as a shock for many as in February this year, the San Francisco-based firm said it is planning to expand its overall headcount in 2023.
"We've become a leaner and more focused company over the last three years. The company expects to grow its headcount this year," an Airbnb spokesperson was quoted as saying.
However, in 2020, amid the COVID-19 pandemic, Airbnb had laid off 25 percent of its workforce, or nearly 1,900 employees, as its business was hit hard when global travel came to a standstill.
Airbnb reported 24 per cent growth in its revenue for the fourth quarter that ended December 31. It reported $319 million in net income for the quarter, up from $55 million a year earlier. In its shareholder letter, Airbnb said it's seeing continued strong demand at the start of 2023.
Airbnb was "particularly encouraged" by market share gains in Latin America and continued recovery within Asia Pacific.
Meanwhile, Alphabet Inc's self-driving technology unit, Waymo, laid off 137 employees, in its second round of job cuts on Friday. The job cuts at Waymo are part of wider layoffs across the auto and tech industry, including at Rivian Automotive Inc, General Motors Co Twitter Inc, and Meta Platforms Inc.
Last month, Twitter laid off at least 200 employees or about 10 percent of its workforce as the company posted a headcount of about 2,300 active employees, according to Elon Musk. In November last year, the social media platform laid off about 3,700 employees in a cost-cutting measure by Musk.
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