Airbnb laying off 20 percent of its workforce due to Coronavirus Restrictions on Travel Industry. It will Impact on 1900 current jobs. As Airbnb is also in Debt of $2 Billion
CEO of Airbnb Brian Chesky Said that Airbnb is cutting down 1900 Jobs out of 7500 due to travel Restrictions and a Larger Decline in Travel Sector. He also said that Airbnb is Expecting a Half revenue loss in the upcoming meantime of Covid-19 Crisis.
Departing employees of Airbnb will Receive 14 weeks of base pay whereas US employees will continue to receive one year Health Coverage Through the End of the 2020.
Company is Scaling back to its luxury properties as in upcoming days people will cancel there traveling plans due to the fear of Covid-19. Even when the situation will be in control. There will be a Fear in mind of the people.
Last year Airbnb was one of the most promising company in the Share market. Real Estate and Airline Business is in a Great Loss Because most of the places are in a lockdown period.
Revenue Generated in 2020
Companies which are Online Based are on Higher Side. As they don’t need physical work such as Netflix, Disney Plus, HBO Now, YouTube, Google etc. Even Their Employees are working from home through a laptop and internet.
Game Events, Singing Concerts, Amd Interviews have taken the Virtual Form as Recently One World Concert was held on YouTube through Global Citizen Channel which Raised Funds for Coronavirus Health Care Workers.
There are Also Start ups came Right after the Covid-19 such as Jelly Like Devices for sniffing Explosives and Diseases at Airport.
Automobile plans are cancelled. New model Launch are delayed. Even John wick 4 now has a date of 2022. As Coronavirus affect on almost each and every sector of the world.