Saudi Press

Saudi Arabia and the world
Saturday, Apr 20, 2024

Airbnb Lays Off 30% Recruiting Staff: Report

Airbnb Lays Off 30% Recruiting Staff: Report

The job cuts affected 0.4 per cent of the Airbnb's total workforce of 6,800.
Home rental firm Airbnb has laid off 30 per cent of its recruiting staff this week, according to a report in Bloomberg. The job cuts affected 0.4 per cent of the company's total workforce of 6,800. A company spokesperson told the outlet, "We've become a leaner and more focused company over the last three years. The company expects to grow its headcount this year."

The spokesperson added the company had made a "difficult decision to reorganize and reduce the size of our recruiting team to reflect our hiring projections."

Airbnb added that it is not an indication of more widespread layoffs. In contrast to the 11 per cent growth experienced last year, the company predicted staff growth in the range of 2 per cent to 4 per cent in 2023. Airbnb also plans to expand its overall headcount this year.

While many of its competitors have reduced their growth projections due to increased borrowing rates and a slowdown in the entire industry, Airbnb has been one of the few IT companies to avoid major layoffs. In the meanwhile, as demand for travel increased following the pandemic, the travel industry mostly remained resilient.

Last month, the company reported its first annual profit, with revenue surging in the final three months of 2022 as travel bookings rebounded. The home-rental platform said it made a profit of $319 million in the final quarter of last year on revenue of nearly $2 billion.

According to the San Francisco-based corporation, they ended 2022 with a net income of $1.9 billion as opposed to a deficit of $352 million the previous year.

During the pandemic, Airbnb had laid off 25 per cent of its workforce or about 1,900 employees. The decision was made when the rental major's operations virtually ceased due to global constraints brought on by the Covid-19. Brian Chesky, the CEO of the company said in a blog post at the time that "global travel came to a standstill" as the Covid-19 induced crisis unfolded.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Reports in Gaza: 5 dead from the impact of aid packages dropped by the USA
Apple warns against drying iPhones with rice
China Criticizes US for Vetoing UN Ceasefire Resolution in Gaza
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
The U.S. vetoed a U.N. Security Council resolution calling for a temporary ceasefire in Gaza, instead proposing its own six-week ceasefire plan contingent upon the release of all hostages held by Hamas
Prince William Urges End to Gaza Conflict
Saudi Arabia ranks first in UN index for e-government services in MENA
Israel has gone ‘beyond self-defence’ in Gaza, says Labour’s Streeting
EU Calls for Immediate Ceasefire in Gaza Conflict
Israel Records 20% Drop In GDP, War In Gaza Is The Reason
Saudi Arabia's FDI Inflows Grow with New International Standards
Venture Capitals Power Up Across MENA Region
Saudi Arabia Introduces Terms for 30-Year Income Tax Exemption for Multinational Companies
Saudi FM: Establishing Palestinian state is only pathway for Mideast stability
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
Elon Musk's Starlink Gets License For Israel, Parts Of Gaza
Influencers Exploit X Platform for Profit Amidst Israel-Gaza Conflict
PM Modi Announces Opening Of New CBSE Office In Dubai
International Criminal Court's Chief "Deeply Concerned" By Rafah Bombing
January Funding for MENA Startups Totals $86.5 Million
Saudi Arabia accelerates digital economy growth through Nvidia partnership
Indian female military officers commend Saudi Arabia's progress and women's empowerment
Israel unveils tunnels underneath Gaza City headquarters of UN agency for Palestinian refugees
Israel deploys new military AI in Gaza war
Egypt threatens to suspend key peace treaty if Israel pushes into Gaza border town, officials say
Israel Utilizes AI Military Technology in Gaza Conflict
Saudi Arabia Warns Of A "Humanitarian Catastrophe" If Israel Moves On Rafah
China Warns Iran to Halt Houthi Attacks or Damage Trade Ties
US University To Shut Qatar Campus Due To "Heightened Mideast Instability"
Iran-backed hackers interrupt UAE TV streaming services with deepfake news
Facebook and Instagram Ban Iran's Supreme Leader
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
U.S. Secretary of State Blinken: The Israelis underwent dehumanization on 7.10, this does not give them the right to do this to others.
Defense Technology Showcase Held in Riyadh
Saudi Arabia’s non-oil exports rise 2.5% to $6bn in November 2023: GASTAT
UK Bans Misleading "Zero Emissions" Claims for Electric Cars
Gaza's Teen Inventor Sparks Light in Displacement
Netanyahu Rejects Ceasefire Proposal, Insists On Total Victory Over Hamas
Guterres appoints independent UNRWA review panel
Private Sector Employment Hits Record High with Over 11 Million Employees in January
Rolls-Royce Executive Encourages Saudi Women to Tap into Their Inner 'Superhero' for Success in Defense Industry
Saudi Arabia launches National Academy of Vehicles and Cars
Saudi Tourism Minister Reveals Plan for 250,000 New Hotel Rooms by 2030
SAR to more than double eastern network passenger capacity with new trains deal
Saudi Arabia Enhances National Defense with New Partnerships
Saudi Aramco Maintains Arab Light Crude Pricing to Asia for March
NEOM Establishes New York Office to Support Investors
Saudi Wealth Fund Draws in Over $25 Billion Worth of Investments in Three Years, Al-Rumayyan Reveals
ZATCA Cautions Against Scammer Schemes
INTRA Defense Technologies inaugurates drone factory in Riyadh
×