May 5, 2020 / 7:12 PM / 21 days ago

Airbnb to lay off 1,900 employees - sources

May 5 (Reuters) - Airbnb Inc is laying off 25% of its workforce due to the coronavirus pandemic, impacting nearly 1,900 employees of the home rental startup, two sources familiar with the matter told Reuters.

The employees will receive a four-month pay package, accelerated equity vesting and health insurance for a year, one of the sources said.

The company is expected to update employees about the decision in a meeting today, the source added.

Airbnb in late March suspended all its marketing activities to save $800 million in 2020, and informed workers that its founders will take no salary for the next six months while top executives will take a 50% cut. (Reporting by Munsif Vengattil, Anirban Sen and Joshua Franklin; Editing by Vinay Dwivedi)

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