A Message from Co-Founder and CEO Brian Chesky

Airbnb Co-Founder and CEO Brian Chesky announces significant workforce reductions due to the unprecedented impact of the COVID-19 pandemic on global travel. Nearly 1,900 employees, about 25% of the workforce, will be laid off as Airbnb shifts to a more focused business strategy that emphasizes core values of belonging and human connection. Chesky emphasizes the difficult decision-making process and outlines support measures for departing employees, including severance packages, equity adjustments, healthcare coverage, and job placement assistance. Key Information: - Airbnbs's workforce reduction affects approximately 1,900 employees, 25% of the total. - The decision stems from a severe decline in revenue, with forecasts indicating earnings less than half of 2019 levels. - Chesky highlights the need for Airbnb to adapt to a 'new normal' in travel, focusing on local, affordable, and safer options. - Support for departing employees includes: - 14 weeks of severance pay plus additional weeks based on tenure. - Dropping the one-year cliff on equity for employees hired in the past year. - 12 months of healthcare coverage in the U.S. and insurance costs covered in other countries until the end of 2020. - Career support through an Alumni Talent Directory and job placement services. - Chesky expresses gratitude and love for all employees, reinforcing the company's mission centered on human connection and belonging.