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WeWork set to lay off thousands amid company turmoil

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Drawdown

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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."
 
Drawdown said:
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."
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That's sad, especially right before Christmas.

Don't forget everyone, donate to your local food bank! Some of these people might have kids who are going to need that food to maintain a reasonably healthy diet.
 
Drawdown said:
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."
Click to expand...

I’ll say it before anyone else does. Trump’s fault. I think he promised prosperity for everyone. He broke his promise.
 
Outlook said:
I’ll say it before anyone else does. Trump’s fault. I think he promised prosperity for everyone. He broke his promise.
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Bankruptcy lawyers are people too.
 
JustHanging said:
That's sad, especially right before Christmas.

Don't forget everyone, donate to your local food bank! Some of these people might have kids who are going to need that food to maintain a reasonably healthy diet.
Click to expand...

Reportedly they had to wait until softbank injected it with cash to be able to afford to pay severance packages.
 
Drawdown said:
Bankruptcy lawyers are people too.
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Don’t have a lot of respect for bankruptcy lawyers. I’m not so sure I would classify them as people.
 
Outlook said:
Don’t have a lot of respect for bankruptcy lawyers. I’m not so sure I would classify them as people.
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Understandable. I feel that way about democrats who call themselves progressives.
 
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