Airbnb CEO Brian Chesky announced that the platform was cutting around 25% of its workforce “since we cannot afford to do everything that we used to”.
Chesky said that the group was reducing its investment in activities “that do not directly support the core of our host community”, including in hotels.
Chesky said: “Travel in this new world will look different, and we need to evolve Airbnb accordingly. People will want options that are closer to home, safer, and more affordable. But people will also yearn for something that feels like it’s been taken away from them - human connection.
“When we started Airbnb, it was about belonging and connection. This crisis has sharpened our focus to get back to our roots, back to the basics, back to what is truly special about Airbnb - everyday people who host their homes and offer experiences.”