AirBnb pauses marketing during COVID-19 pandemic
The travel and hospitality industry is already suffering from the effects of COVID-19, and Airbnb is one of them. In fact, it was reported that the lodging marketplace will pause marketing spending to save about $800 million this year and offset losses from the coronavirus pandemic.
Airbnb also freezed hiring, save for key company roles. It's also reported that company founders won't have their salary for the next six months, while top executives will have a 50% pay cut, again to help offset losses.
The home rental marketplace is already losing money due to the pandemic, so it's prudent to cut spending on marketing especially now that consumers are sheltered in place and most countries have restricted travel.
Airbnb also freezed hiring, save for key company roles. It's also reported that company founders won't have their salary for the next six months, while top executives will have a 50% pay cut, again to help offset losses.
The home rental marketplace is already losing money due to the pandemic, so it's prudent to cut spending on marketing especially now that consumers are sheltered in place and most countries have restricted travel.
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Kathrilas -
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