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Fortune
Fortune
Steve Mollman

Airbnb CEO eliminated ‘fiefdoms’ and got more involved to survive the pandemic—and it’s proven to be a better strategy anyway

(Credit: David Paul Morris—Bloomberg/Getty Images)

The pandemic hit Airbnb hard. The company lost 80% of its business in March 2020, and people were questioning its ability to survive. Barely two months into the pandemic, it laid off about 1,900 people, or a quarter of its employees. 

Fast-forward to today and not only did it weather the crisis, but in June Airbnb made its debut on the Fortune 500 list of top U.S. public companies by revenue, coming off its first-ever profitable year.

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