1900 employees (25% of workforce) laid off at Airbnb
4 months pay package, accelerated vesting and health insurance for a year. I guess if you're going to layoff people, that's one good way to do it. #layoff #airbnb
It is here
What is accelerated vesting? Like someone is at company for 2 yrs so he gets to have the remaining 2 yrs rsu vested too ?
I believe the accelerated vest means you get RSUs granted that you were set to receive on May 25th. Basically 3 weeks away. Nothing special
Got it. So basically which were about to vest under a month or so. Do u know if they are allowing it to sell to companies when they leave? What’s point of keeping on RSU if you can’t sell them. And I believe they wud be far less worth now due to valuation drop? Did company increase the no. Of RSU to make up for drop in value?
don't u still have to buy the options within 90 days? and do you think what it is marked as is realistic value?
I think these are RSUs. So don’t need t buy. But when RSU gets vested they still go for a tax event? If I am right? Or company is already withholding some RSUs for federal Tax? Any hints on how much the RSU value dropped? Thanks and I hope u all remain safe
I know I'm late to this party. These are likely double trigger RSUs, meaning until Airbnb goes public, they are technically not yours. This is a good thing because 1) There is no market to sell until they IPO 2) If it vested, you would immediately owe tax as income. Normally you sell some to pay the tax, but in this case there is no market so you need to come up with the cash to pay for it. No need to worry about drop in value since you can't do anything about it. Forget that they even exist and go on with your life. If Airbnb IPOs in the future it'll be a nice bonus that year. Don't forget you'll owe income tax on whatever amount it IPOs for times number of your RSUs.
Glad I didn’t get an offer from them, definitely would have taken it
There were some companies that laid-off people and made the whole thing about their cult-like CEOs and not about the impacted employees. How their CEO did his best, how damn good engineering culture they have blah blah, how tough it is on everyone blah blah. I hope AirBnb does not go about glorifying their CEO during this time.
4 months pay is pretty good though. Hope things will get better then and we can all go back to our normal life
I hope I'm not laid off. I am on one of the teams they talked about being cut hopefully they can move me over to a new team.
Good luck, hope you land on your feet.
It looks like I'm safe. From what I can tell you got one of two emails. One confirming that your role is important to the future of Airbnb and another that you have a 1:1 meeting to discuss the layoff with your manager and hr.