- Executives said clients and tenants were still interested in WeWork’s offerings, and implored staff to focus on its core business and customers.
Source | economictimes.indiatimes.com
WeWork’s leaders told staff that job cuts are coming as soon as this month.
In a meeting with employees Thursday, new co-chief executive officers Artie Minson and Sebastian Gunningham and co-founder Miguel McKelvey said that cost-cutting efforts would include layoffs, according to attendees. The cuts will be handled as “humanely” as possible, one executive said, according to the people, who asked not to be identified because the forum wasn’t public.
Bloomberg reported last week that WeWork parent We Co. was considering job cuts, and the eliminated positions could number in the thousands. Executives have recently pegged the amount at about 2,000, including jobs in business units that may be spun off, said people familiar with the discussions. That would be 16% of WeWork’s 12,500 employees, as of June. Deliberations are ongoing, and the number could change.
A WeWork representative declined to comment.