Airbnb Cutting 25% of Staff as Global Travel Slumps

The video discusses the severe impact of COVID-19 on the travel industry, focusing on Airbnb's response. Airbnb has raised capital and cut costs, including layoffs, due to the uncertainty of travel's return. The company plans to reduce investments in luxury travel and hotels, refocusing on its core business of home rentals. The pandemic has jeopardized Airbnb's plans to go public, prompting a return to its original mission of serving everyday hosts and travelers.

What specific actions has Airbnb taken to address the financial impact of the pandemic?

In what ways does Chesky believe the travel industry will change post-pandemic?