Airbnb To Let Employees 'Live And Work Anywhere' — But Here's The Fine Print

Starting in September, Airbnb Inc (NASDAQ: ABNB) employees will have the option to work from almost anywhere, the vacation rental company’s co-founder and CEO Brian Chesky wrote in a blog post on Thursday.

What Happened: Airbnb employees will be able to permanently work from either their home, office, or while traveling in more than 170 countries for up to 90 days a year in each location. 

“You can work from home or the office — whatever works best for you,” Chesky wrote in the post.

“You can move anywhere in the country, like from San Francisco to Nashville, and your compensation won't change.”

The 40-year-old CEO said employees will meet up regularly for team gatherings with opportunities to connect in person every quarter for about a week at a time.

Chesky said Airbnb had “the most productive two-year period” in its history, “all while working remotely.”

See Also: Airbnb Looks Set to Recapture Old Highs as Stock Price Rebounds from Latest Travel Fears

Today, we're announcing that Airbnb employees can live and work anywhere.

Our design for working at Airbnb has 5 key features:

— Brian Chesky (@bchesky) April 29, 2022

Why It Matters: Airbnb had 6,132 employees at the end of 2021 and also heavily relies on third-party partners.

San Francisco, California-based Airbnb in May 2020 had undertaken a major restructuring and slashed its workforce by 25%, cutting 1,900 jobs, after its operations were hit hard by the coronavirus pandemic.

A number of tech companies have adopted hybrid work style or are asking employees to return to office soon. Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) and Meta Platform Inc (NASDAQ: FB) are among companies that have reportedly cut salaries of employees working remotely. 

ABNB Price Action: Airbnb closed 4.09% down  at $153.21 a share Friday at market close.

Photo: Courtesy AirBNB