ABNB

By Sabela Ojea

Airbnb Inc. is cutting recruiting roles across its workforce as it expects to grow at a slower pace in 2023, a spokesperon said Friday.

The human-resources layoffs come as the company looks to grow its headcount between 2% to 4% this year. Airbnb declined to detail how many recruiting employees are losing their jobs. In 2022, the San Francisco-based company, which operates a marketplace offering short-term rentals, increased the size of its global workforce by 11%.

"Even though we expect to grow our headcount in 2023, we have made the difficult decision to reorganize and reduce the size of our recruiting team to reflect our hiring projections," an Airbnb spokesperson said.

This workforce restructuring call is, however, not an indication that widespread layoffs will be happening at the company, the spokesperson added.

Last month, Airbnb warned about taking action to protect its cost structure after recording its first-ever annual profit in 2022.

The company expects Ebitda margins in 2023 to be roughly at the same level as they were last year due to declining average daily rates -- a metric that measures the average daily rate paid by guests for a reservation.

"The way in which we are going to be able to offset the margin impact of those declines will be through fixed cost discipline," Chief Financial Officer Dave Stephenson said on a conference call on Feb. 14.

"We are going to continue to grow, but we are going to grow modestly," he added.

As of Dec. 31, Airbnb employed 6,811 people globally.

Write to Sabela Ojea at sabela.ojea@wsj.com

(END) Dow Jones Newswires

March 03, 2023 17:14 ET (22:14 GMT)

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