On Tuesday, Airbnb CEO Brian Chesky told employees that 1,900 people would be laid off due to coronavirus.
That accounts for 25% of its workforce.
According to Business Insider, laid off employees would get a severance package that includes 14 weeks of pay, plus an additional week for each year they've been with the company.
Airbnb will also provide them with a year of medical healthcare, four months of mental health support, and assistance finding a new job.
CEO Brian Chesky was confident that their business would rebound, but said that the changes it will undergo will not be short-lived.
Chesky explained, "Because of this, we need to make more fundamental changes to Airbnb by reducing the size of our workforce around a more focused business strategy."
