Property manager AvantStay said Friday its employee roster was subject to 43 “job reductions” in the past 30 days.
The company argued that these weren’t layoffs because they came as part of a “gradual reorganization.” There actually was a net reduction of 19 employees over the last month because the company, which has around 600 staffers, also did hiring during the period, AvantStay said.
Skift earlier reported that AvantStay had fired around 80 employees, but AvantStay’s statement about 43 job reductions cast doubt on the original number. AvantStay, however, would only make statements about job reductions in the past 30 days.
Avantstay said in December it managed more than 1,000 properties in more than 100 cities.
AvantStay founder and CEO Sean Breuner said: “As you know we recently hired a new COO and we executed a reorganization of our company to eliminate redundancies and introduce new executives. We have been and will continue to keep hiring as travel remains robust this summer (hopefully others seeing same).”
The company said it is not engaging in any fundraising at this time.
Several now-former AvantStay employees posted about the layoffs on various social media platforms. One said the company cited a looming recession, and investor losses as among reasons behind the job cuts.
The AvantStay layoffs follows the news earlier today that WanderJaunt, another property manager, ceased operations and told guests to leave booked properties if the stay went beyond June 30.
Founded in 2017 and based in Los Angeles, AvantStay manages properties and redecorates them with the aim of charging premium rates for owners.