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Gillian Tan / Bloomberg, Time: Business
Thu, 11/21/2019 - 10:58am

(Bloomberg) –– Long-anticipated layoffs at WeWork have begun, part of the struggling office-sharing company’s plan to cut costs after staggering losses. WeWork said Thursday that the reductions will affect 2,400 employees globally. They will receive severance and continued benefits and other forms of assistance, according to an emailed statement. The job cuts represent almost 20% of the company’s global workforce, which totaled 12,500 as of June 30. “We are grateful for the important roles they have played in building WeWork over the last decade,” a company spokesperson said.

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