SOTM 47: Airbnb Cuts 25% of Staff. Still Hope for a V-Shaped Recovery?

Last week, Airbnb CEO Brian Chesky confirmed that the company will cut its workforce by roughly 25 percent. Considering how hard COVID-19 hit Airbnb’s business, this isn’t surprising. What’s surprising is the extremely generous severance package the company put together for former employees. Is this a sign that the Airbnb execs expect recovery to take much longer than U.S. financial institutions predict? Is it time to stop hoping for a V-shaped recovery and start preparing for a long-lasting recession? Find out on today’s State of the Market podcast.

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