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HomeCURRENT AFFAIRSBUSINESSRecession 2023: Despite profits in 2022, Airbnb lays off 30% of its...

Recession 2023: Despite profits in 2022, Airbnb lays off 30% of its recruiting staff

2022 has been a year of achievement for Hospitality firm Airbnb, because company reported its first profitable year in 2022 and achieved a net income of $ 1.9 billion. Despite profitable 2022, Airbnb has laid off its 30% of its recruiting staff. The report has come as a shock to many Industry observers who have revealed that company had been planning to expand its overall headcount in 2023.

Airbnb lays off 30% off its recruiting staff

However the decision of firing staff has affected less than 0.4% of the company’s total workforce of about 6800.

Airbnb Chief Executive Brian Chesky had stated last year that the state of economy won’t affect how the business is managed and run. Chief Financial Officer Dave Stephenson has remarked on the company’s latest earnings call that there is possibility for more hirings on the company rolls,

Stephenson stated last month,

“We’re going to continue to grow, but we’re going to grow modestly,”

He also expects headcount growth of 2% to 4% this year, compared with 11% growth last year.

During Covid-19, Pandemic, home sharing company Airbnb had fired 25% of its staff.

Also Read: Manish Sisodia moves to Delhi HC for bail plea after rejection from SC

Layoffs across Auto and Tech Industry

In the meantime, Alphabet Inc’s self-driving technology unit, Waymo has fired 137 employees. The job cuts at Waymo are part of wider layoffs across the auto and tech industry, such as Rivian Automative Inc, General Motors Co, Twitter Inc and Meta Platforms Inc.

Waymo has laid off a total of 209 jobs and has eliminated some engineering roles as part of the cuts to “focus on commercial success”

In January Alphabet stated that it had plans to lay off 12,000 jobs, which would affect a large number of employees who support experimental projects. The Health Science unit of Alphabet has stated that in January it would lay off at least 200 employees, or about 15% of its workforce.

Twitter last month had laid off at least 200 employees or about 10% of its workforce. The company now has 2300 active employees. However in November last year, the Social Media Platform had laid off about 3700 employees in a cost cutting measure envisaged by Trump, who had taken over the company for $ 44 billion.

Also Read: Rahul Gandhi’s Cambridge Lecture Sparks Debate! BJP Accuses Congress Leader of Praising China and Disparaging India on Foreign Soil

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