Airbnb's layoffs will likely save the company less than $255 million - Business Insider

. For US workers, Airbnb announced it would pay their COBRA coverage costs, which are basically a combination of the employer premium it was previously paying and the premium those employees paid when they were employed.

Per-person healthcare costs are considerably higher in the US than in other countries, but that figure is likely a good one to start with, because the vast majority of affected workers Airbnb has listed so far are based in this country.

A big part of the reason the company is unlikely to save a lot of money from the cuts this year is that it is giving affected employees relatively generous severance packages. The company plans to pay laid off workers at least 14 weeks of pay this year, plus one extra week's worth of pay for each year they've worked at Airbnb. It also plans to continue paying US workers' health insurance costs for a full year and those of workers outside the US until the end of this year.

The company will see more substantial savings next year. Business Insider estimates those will range from about $231 million to $563 million, depending on average salary and benefit costs. In 2022 and following years, the savings will be slightly higher, after it stops paying for healthcare coverage for US workers. It will likely save somewhere between $237.5 million and $570 million.

No worries, Trump is on the Job! Down w Chinese communism and its aggressive tactics. USA,USA, USA!

Good. Maybe I’ll have a home before I hit 65 next year.

Another shitty internet 🦄 , no way!

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trump donor's private jet company reportedly gets $27 million bailout - Business InsiderClay Lacy of Clay Lacy Aviation donated the maximum amount to Trump in 2016, the same year he gave $47,300 to the Republican National Committee. Cronyism pays off hblodget This is normal for a functioning democracy. LindaWesson ew
Source: BusinessInsider - 🏆 729. / 51 Read more »

Former WeWork exec says another WeWork layoff is in the works - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Starling is off to a fast start on relief loans - Business Insider - Business InsiderStarling has been stepping up its efforts to appeal to businesses amid the pandemic, and it's already reaping some tangible benefits
Source: BusinessInsider - 🏆 729. / 51 Read more »

The pandemic won't save big tech from regulators, but it might help - Business InsiderThe pandemic has given Silicon Valley a chance to repair its reputation, but that means little to antitrust regulators set on holding big tech accountable
Source: BusinessInsider - 🏆 729. / 51 Read more »

Microsoft opens up data to help all companies stop COVID-19 scams - Business InsiderMicrosoft is opening up a treasure trove of its cyberattack threat intelligence to everybody — even non-customers — to help stop coronavirus-related scams
Source: BusinessInsider - 🏆 729. / 51 Read more »

How much money YouTube pays for 1 million views, according to 5 creators - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Can’t read the article without paying 😳 I opened it 50 times to read for 5 seconds and complete first paragraph
Source: BusinessInsider - 🏆 729. / 51 Read more »