Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Airbnb has announced a reorganisation that will lead to cut 1,900 positions worldwide, about a quarter of its global workforce. Airbnb has employees in 24 countries and its European head office is in Dublin (Ireland), where it employs about 500 people. The company forecast revenues in 2020 would be half the $4.8 billion (€4.43 billion) generated in 2019. The chief executive described COVID-19 as 'the most harrowing crisis of our lifetime'. In a long message to employees, he told staff that the company doesn't know exactly when travel will return. But when travel does return, it will look different probably because people will want options that are closer to home, safer, and more affordable. In the message to the employees, details of redundancies packages where illustrated: employees in the US will receive 14 weeks of base pay, plus one additional week for every year at Airbnb. Outside the US, all employees will receive at least 14 weeks of pay, plus tenure increases consistent with their country-specific practices. Airbnb want also to limit the burden of healthcare costs. In the US, the company will cover 12 months of health insurance. In all other countries, it will cover health insurance costs through the end of 2020.The company will also provide four months of mental health support.
Eurofound (2020), Airbnb, Internal restructuring in World, factsheet number 100701, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100701.
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