WeWork plans to lay off nearly thousands of employees to regain the lost fortunes

In the desperate move to regain all its lost wealth, it is seen that WeWork has said to be layoff nearly 4000 jobs. All these things will be done so that it can get financial stability in the long run. It may get announced during the early of this week.

In the statement published on Sunday, it said that the start-up might lay off nearly 2000-2500 employees in the main office space renting business. The next 1000 employees will be leaving WeWork as it got the sell or shut down all its non-core companies like a private school in Manhattan.  The next 1000 employees who all are there for building maintenance employees will get transferred to the external contractor.

During the last week, WeWork has given a statement to its investors who all have lost nearly $1.25 billion on revenue during the third quarter. All these figures for losses were up by almost 150 percent from the same period during the last year.

The work of WeWork is to rent out office spaces to all start-ups, enterprises, and freelancers, which is done by investing real estate in most of the expensive markets around the world.

About the author

Amanda Rose

Amanda Rose

Amanda Rose has lived in Nashville her whole life. Amanda has worked as a journalist for nearly a decade and has contributed to several large publications including the Yahoo News and the Oakland Tribune. As a founder and journalist for Periodical Today, Amanda covers the latest happening in the world of technology.

Add Comment

Click here to post a comment