I understand that their income probably dropped, but what is it that they are they spending so much money on that they can't cut back during the pandemic and its aftershock?
Real question, I'm not very knowledgeable in that space so would love to understand what I'm missing.
Number of employees: 12,736 (2019)
apple is essentially a proxy with zero skin in the game. They don't manufacture the phones, screens, chips etc...
airlines are proxies, most planes are leased not owned...
Hotels are proxies, most hotel properties are franchises not owned by corporate...
Airbnb is different. When demand drops, their costs directly drop as well since they don't pay hosts for stays that did not happen.
The odd thing is that they dont seem to get rid of anyone at all. Most companies use COVID as an excuse for a round of overdue layoffs