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This has always seemed like a dicey business model to me. I suspect that more so than the economy is the problem. People who rent offices just when they need it do not seem like a particularly reliable, steady customer base.
WeWork set to lay off thousands amid company turmoil: report | TheHill
WeWork is set to lay off at least 4,000 employees from across its workforce and could do so as early as this week, The New York Times reported on Sunday. WeWork’s main business of subletting office space would lay off 2,000 to 2,500 employees, a source told the news outlet, while an additional 1,000 employees will leave as the company sells off or closes other businesses. Another 1,000 employees in building maintenance will reportedly be transferred to an outside contractor.
The combined layoffs amount to roughly a third of the company’s 12,500 person workforce that it employed at the end of June.
A source told The Times that the layoffs could rise to as many as 5,000 to 6,000 WeWork employees."
WeWork set to lay off thousands amid company turmoil: report | TheHill
WeWork is set to lay off at least 4,000 employees from across its workforce and could do so as early as this week, The New York Times reported on Sunday. WeWork’s main business of subletting office space would lay off 2,000 to 2,500 employees, a source told the news outlet, while an additional 1,000 employees will leave as the company sells off or closes other businesses. Another 1,000 employees in building maintenance will reportedly be transferred to an outside contractor.
The combined layoffs amount to roughly a third of the company’s 12,500 person workforce that it employed at the end of June.
A source told The Times that the layoffs could rise to as many as 5,000 to 6,000 WeWork employees."