4000 WeWork employees will search for new job


The financially troubled manager of shared workspaces WeWork wants to put a third of its staff on the street. Initiates say that to the American newspaper The New York Times. The dismissal round is part of a larger five-year plan to make WeWork a healthy company.

WeWork will announce this week to say goodbye to at least 4000 employees. Approximately half of them are engaged in non-core activities. This includes contractors engaged in the maintenance of office buildings. According to the latest figures, a total of 12,500 people work at WeWork.

WeWork pursued an IPO earlier this fall, but withdrew. Investors doubted, among other things, whether the company had a clear path to profitability. As a result, WeWork’s valuation plummeted to $ 8 billion, barely one-sixth of what it once was.

By: Lesley Woutersen

Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by lesley.woutersen@economicinform.com.

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