Airbnb Scales Back Marketing – Top Execs Take Pay Cut

As the travel and hospitality industry is one of the biggest sectors hurt by COVID-19, it comes as no surprise to learn that Airbnb has suspended all of its marketing in an attempt to save $800 million this year.

Airbnb’s founders will also not take a salary for the next six months, and top executives will take a 50 percent pay cut, according to Reuters. The company has paused hiring as well, with the exception of a few key roles. (Read the full article here).

Airbnb announced plans to go public last September, reporting over $1 billion in revenue for Q2 2019.  Airbnb’s losses nearly doubled in Q4 last year, before the pandemic became a global issue, according to Bloomberg.

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