WeWork Layoffs
May 2020
WeWork announced a layoff affecting 100 employees (20% of its workforce) in May 2020. The company operates in the Real Estate sector.
100
20%
May 18, 2020
About
WeWork India, the Indian subsidiary of the US-headquartered co-working giant, laid off approximately 20% of its workforce in May 2020, affecting around 100 employees out of a total of 500. This decision was driven by the severe impact of the COVID-19 pandemic on business and revenues, which exacerbated existing financial stress. CEO Karan Virwani stated the layoffs were a tough but necessary step to streamline operations, reduce costs, and build a sustainable structure focused on core business priorities. The company, operating 34 centers in India, aimed to become profitable by early 2021 by realigning teams and adopting a more member-centric approach amid the global crisis.
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