Travel startups struck by wave of layoffs
March 25, 2020- Share:
TripActions, Sonder and Zeus Living have reportedly laid off hundreds of employees as restrictions resulting from the COVID-19 outbreak batter the travel industry.
Andreessen Horowitz-backed TripActions let go of 350 staff members, Business Insider reported. The corporate travel management startup reportedly had 1,100 employees as of February. It raised a $250 million Series D last July at a $4 billion valuation, according to PitchBook data.
Hospitality startup Sonder laid off and furloughed a third of its staff, or more than 400 employees, according to The Information. The company, which operates a network of short-term accommodation rentals, was valued at $1.1 billion last May, according to PitchBook data. Its investors include Spark Capital, Greylock Partners and Valor Equity Partners.
Zeus Living shed 30% of its staff, or nearly 80 employees, according to Business Insider. The company rents furnished properties on a monthly basis to business travelers. Airbnb, Initialized Capital Management and Comcast Ventures have backed Zeus Living.
Andreessen Horowitz-backed TripActions let go of 350 staff members, Business Insider reported. The corporate travel management startup reportedly had 1,100 employees as of February. It raised a $250 million Series D last July at a $4 billion valuation, according to PitchBook data.
Hospitality startup Sonder laid off and furloughed a third of its staff, or more than 400 employees, according to The Information. The company, which operates a network of short-term accommodation rentals, was valued at $1.1 billion last May, according to PitchBook data. Its investors include Spark Capital, Greylock Partners and Valor Equity Partners.
Zeus Living shed 30% of its staff, or nearly 80 employees, according to Business Insider. The company rents furnished properties on a monthly basis to business travelers. Airbnb, Initialized Capital Management and Comcast Ventures have backed Zeus Living.
Correction: This story was updated on March 26 to reflect that Sonder has furloughed and laid off 400 employees. An earlier version only mentioned layoffs.
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