3 ms·
>Airbnb has suspended all of its marketing in an attempt to save $800 million this year. Its founders will also not take any salary for the next six months, and
by stu2b50 6y ago
>Airbnb has suspended all of its marketing in an attempt to save $800 million this year. Its founders will also not take any salary for the next six months, and top executives will take a 50 percent pay cut, according to Reuters.
It's one thing to pay market rate for execs who do an excellent job on a rising company for a for-profit, another for a non-profit in decline.
And it's a different thing entirely when it's in a global pandemic and recession. CEOs of FOR PROFIT companies with far more financial success have cut their pay if nothing else as good symbol for the rest of the company.