Airbnb sacks 30% of recruiting staff despite profitable year
It reported $319 million in net income for the quarter, up from $55 million a year earlier. In its shareholder letter, Airbnb said it's seeing continued strong demand at the start of 2023.
Online home rental firm Airbnb let go of 30 percent of its recruiting staff, according to Bloomberg. The cuts affected 0.4 percent of the company's total workforce of 6,800, as it plans to increase headcount this year.
"We've become a leaner and more focused company over the last three years. The company expects to grow its headcount this year," an Airbnb spokesperson was quoted as saying.
The company had laid off 25 percent or 1,900 employees of its workforce during the pandemic. During the company's quarterly earnings call last month, Chief Financial Officer Dave Stephenson said it is going to hire more people.
"We're going to continue to grow, but we're going to grow modestly," Stephenson, adding he expects headcount growth of 2-4 per cent this year against 11 per cent headcount growth in 2022. Airbnb reported 24 per cent growth in its revenue for the fourth quarter that ended December 31.
It reported $319 million in net income for the quarter, up from $55 million a year earlier. In its shareholder letter, Airbnb said it's seeing continued strong demand at the start of 2023.
The company said it expects to "continue hiring at a judicious pace in 2023." Airbnb was "particularly encouraged" by market share gains in Latin America and continued recovery within Asia Pacific.
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