Rental site Airbnb is laying off 25 percent of its workforce, equivalent to almost 1,900 people.

Global travel has largely ground to a halt since the coronavirus pandemic took hold. Millions of tourists have been forced to cancel their travel plans and the number of temporary housing rentals has plummeted.

In April, Airbnb said it had found investors who would contribute around SEK 10 billion, giving the company a cash position of around SEK 40 billion.

The company has previously allocated around SEK 2.5 billion to those who rent out their homes via the site, to compensate for their losses.

Source: TT