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WeWork Pink-Slips 300 in Performance-Related Layoffs
WeWork, now known as the We Company, has laid off 3% of its global workforce, or about 300 employees, TechCrunch reported. The company’s last round of layoffs, affecting about 70 employees, occurred in 2016.
At that time, WeWork had a workforce of approximately 1,000 employees. Today, its headcount is about 10,000, and dismissals notwithstanding, the company plans to continue growing.
“WeWork recently conducted a standard annual performance review process,” the company said. “Our global workforce is now more than 10,000 strong, and we remain committed to continuing to grow and scale in 2019, including hiring an additional 6,000 employees.”
The layoffs reportedly were performance-related. Among the departments impacted by the cuts were WeWork’s engineering team, product and user experience design, TechCrunch reported.
Now valued at $47 billion, the company received a further $2-billion commitment from SoftBank recently, well short of a $16-billion majority stake SoftBank had considered.
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