Airbnb to halt all marketing, most hiring as losses mount: The Information
Reuters
Published Mar 27, 2020 06:46PM ET
(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.
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Written By: Reuters
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