WeWork Layoffs
April 2020
WeWork announced a layoff affecting 300 employees in April 2020. The company operates in the Real Estate sector.
300
Apr 29, 2020
About
WeWork, the New York-based provider of coworking spaces, has conducted another round of layoffs, affecting an estimated 300 employees primarily from its tech and development teams. The cuts come as the company realigns functions under its strategic five-year plan, citing recent unforeseeable economic conditions, including the shift to remote work during the COVID-19 pandemic. This follows a major layoff of about 2,400 employees last November from a workforce then estimated at 15,000. The company, which has faced significant challenges including a canceled IPO and leadership changes, continues to restructure in pursuit of profitability and positive cash flow goals.
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