Airbnb Inc is laying off 25% of its workforce due to the coronavirus pandemic, impacting nearly 1,900 employees of the home rental startup, two sources familiar with the matter told Reuters.

The employees will receive a four-month pay package, accelerated equity vesting and health insurance for a year, one of the sources said.

The company is expected to update employees about the decision in a meeting today, the source added.

Airbnb in late March suspended all its marketing activities to save $800 million in 2020, and informed workers that its founders will take no salary for the next six months while top executives will take a 50% cut.

— Reuters