After failed IPO, WeWork has now cut 250 jobs
Shared-office operator WeWork has cut about 250 more jobs, a person familiar with the matter told a news agency, as the company seeks to reduce costs after its failed initial public offering last year. The latest job cuts took place last week in the development department of the company, according to the source, who asked not to be identified. In November, the office-leasing company said it would lay off around 2,400 employees globally to cut costs. "WeWork is continuing to execute its new strategic plan. As a result, we are realigning certain functions and teams to reflect our business priorities. Employees impacted by the layoffs received severance, continued benefits and other forms of assistance to aid in their career transitions.” A WeWork spokeswoman said in an emailed statement. The fresh job were not linked to the effects of the coronavirus pandemic.
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