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Photo: Yuriko Nakao/Getty Images

Airbnb is laying off a nearly 1,900 employees, or a quarter of its global workforce, as it tries to weather the near total halt of travel amid the coronavirus pandemic.

Why it matters: Despite raising $2 billion in debt and equity last month, cutting marketing expenses and freezing hiring, the company couldn't escape having to cut a significant number of jobs.

  • "Airbnb’s business has been hit hard, with revenue this year forecasted to be less than half of what we earned in 2019," CEO Brian Chesky said in a company email announcing the layoffs.
  • For severance, employees will receive 14 weeks of pay, plus an additional amount based on their tenure and location. They will also receive extended health care coverage (for 12 months in the U.S. and through the end of the year elsewhere), and the company is removing the first-year minimum to vest their equity if they joined in the past year.
  • The layoffs were not a condition to Airbnb's recent financings, per a spokesperson.
  • Questions also remain about the company's plans to go public this year.

Go deeper: CEO Brian Chesky's full statement

Go deeper

Ina Fried, author of Login
Aug 11, 2020 - Technology

Firefox maker Mozilla to cut 250 jobs

Photo illustration: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Mozilla, the nonprofit maker of the Firefox browser, told employees Tuesday that it is cutting 250 jobs, roughly a quarter of its workforce.

The big picture: Mozilla has been trying to get more of its revenue from subscription products, but said in an internal email that its pre-pandemic business plan is no longer viable.

Biden: There won't be "American forces moving into Ukraine"

President Joe Biden told reporters Tuesday that he does not foresee U.S. troops moving into Ukraine.

Why it matters: Biden's comments come as tensions between Russia and Ukraine persist, and a Russian invasion of Ukraine appears increasingly likely.

Updated 3 hours ago - Politics & Policy

Omicron dashboard

Illustration: Shoshana Gordon/Axios

  1. Health: Axios-Ipsos poll: Omicron's big numbersAnother wave of death — FDA limits use of Regeneron and Lilly antibody treatments — Fauci: "Confident" Omicron cases will peak in February.
  2. Vaccines: Pfizer begins clinical trial for Omicron-specific vaccine — The shifting definition of fully vaccinated.
  3. Politics: Biden admin withdraws temporary vaccine-or-test mandate for large employers — New York Supreme Court strikes down Gov. Hochul's mask mandate for public areas — Sarah Palin tests positive, delaying defamation trial — Virginia school boards sue Gov. Youngkin for lifting mask mandate.
  4. World: U.K. to lift travel testing requirement for fully vaccinated — Beijing Olympic Committee lowers testing threshold ahead of Games.
  5. Variant tracker