WeWork lays off 2,400 employees


WeWork lays off 2,400 employees
Key Points The beleaguered office-sharing start-up is laying off 2,400 employees in an attempt to right-size the business. The layoffs come after several tumultuous months for WeWork, which were marred by a botched IPO, mounting losses and co-founder Adam Neumann’s resignation. WeWork recently detailed sweeping changes to its business, including divesting noncore ventures. WeWork is laying off 2,400 employees as it works to cut costs and right-size the business, the company confirmed to CNBC. In a statement, a WeWork spokesperson said the cuts were being made as part of the company’s efforts to “create a more efficient organization” and refocus on the core office-sharing business. The job reductions represent 19% of WeWork’s total workforce, which amounted to 12,500 employees as of June 30, according to an SEC filing... ...more RSK: I am sure there are more to come.
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Key Points

The beleaguered office-sharing start-up is laying off 2,400 employees in an attempt to right-size the business.
The layoffs come after several tumultuous months for WeWork, which were marred by a botched IPO, mounting losses and co-founder Adam Neumann’s resignation.
WeWork recently detailed sweeping changes to its business, including divesting noncore ventures.

WeWork is laying off 2,400 employees as it works to cut costs and right-size the business, the company confirmed to CNBC.

In a statement, a WeWork spokesperson said the cuts were being made as part of the company’s efforts to “create a more efficient organization” and refocus on the core office-sharing business. The job reductions represent 19% of WeWork’s total workforce, which amounted to 12,500 employees as of June 30, according to an SEC filing...

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WeWork lays off 2,400 employees

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