Tech Industry
Yesterday
949
Update: Trans Coworker Stealing Breast Milk
Tech Industry
Yesterday
1590
I am starting to think Chinese interviewers currently fail non-Chinese candidates on purpose.
Tech Industry
Yesterday
1743
Cute girl on the floor
Tech Industry
Yesterday
2411
Crossed a line with my boss
Tech Industry
Yesterday
2969
The job market is absolutely brutal right now
https://twitter.com/street_insider/status/1259843322945966084?s=21 If booking data looks so awesome why did you have to lay-off? Couldn’t wait few months? So either this latest stuff is bs or Coronavirus was a perfect set up to remove some employees. What a tool ceo. All last decade startup CEOs are scums.
“Compassionate layoffs” 😂😂😂
The terms were pretty generous
The layoffs were a business necessity. Given that they had to happen, leadership absolutely performed them compassionately. Top tier severance with healthcare; job search support; laptops to keep. Idk how else you would describe it besides compassion or empathy.
AirDNA has data on bookings. If you want to see what Airbnb sees just go look at it.
Dead cat bounce
Impossible to know how long growth will continue so leadership took the safer option; if growth holds steady for next 2-3 months and second wave looks minimal, I wouldn’t be surprised if they ramped back up hiring entering Q1
This is why alot of engineers make terrible business people.
Leadership definitely took this opportunity to cut a lot of fluff
Cut early, cut deep, cut once.
**sigh** .Cost = 5.3M projected bookings = 2.3B Burn $3B...they had to lay-off 2000 to get through FY'20, with the new raise they have $4B in the bank, they will burn down $2.5B..rolling into FY'21 with maybe $1.5B left. FWIW, expect another 2000 in about 3 months if bookings don't pick up because they are shit out of luck..all they want to do is limb along to Mar 2021 (when travel kicks back into gear)
This is smart as fuck
why u mad, just book ur airbnb and be happy
The ceo letter was very clear that they needed to refocus the business for the future. The layoffs were a result of that and not that they were worried about the business recovering. Their lay-off severance package was quite spectacular, so I m not sure what the justification for calling the ceo a tool is here.
If your future looks promising as you say then why not hold on to ppl if future is reallly good. Why cut them? That’s not the right strategy then.
Have you read the letter? Obviously they’ve decided the areas they’re invested in are not the right ones going forward, and by extension, not the right people for their future investments. Of course, they may be wrong. Only time will tell.