Airbnb: 30% recruiting staff laid off despite growth in revenue
Airbnb, a well-known hospitality company, has eliminated employees once more. According to sources, 30% of Airbnb’s personnel responsible for recruiting has been let go. The research is released after Airbnb reported an increase in income in 2022. The business currently has 1.9 million dollars in net income. At the moment, the employs roughly 6800 people, and the most recent layoffs only touched less than 0.4% of the entire workforce.
In February, Airbnb said that it would increase its workforce in 2023. But, according to a new Bloomberg story, Airbnb is cutting workers and has already fired about 30% of its recruiters as a first step.
During the pandemic, Airbnb had a hard time. The coronavirus-caused pandemic caused a significant income loss, which pushed the hotel app to cut back on staff. Over 1900 employees, or almost 25% of the whole workforce the company, were let go. The CEO of the business had stated that the company was experiencing difficult times.
With revenue of $8.4 billion, Airbnb reported making more money than ever before in February. It is an increase of 40% from the prior year, which is 2021. If foreign exchange rates aren’t taken into account, the revenue rise was even larger at 46%.
This was the first full year of profitability for Airbnb under GAAP (GAAP is a standard for financial reporting in the US). A measure of profitability, adjusted EBITDA for the company was $2.9 billion, and their free cash flow, the amount of money they made after paying expenses, was $3.4 billion. Both of these numbers increased by 49% over the prior year.