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WeWork to cut 2,400 jobs in Softbank overhaul

WeWork to cut 2,400 jobs in Softbank overhaul
Friday 22
4:50 2019

WeWork is cutting 2,400 jobs globally, as owner Softbank tries to stem losses and cut costs at the troubled office-share startup. The staff cuts are the latest remedial move for WeWork after its majority backer, the Japanese technology fund Softbank, took over the loss-making company outright last month. The $8bn (£6.2bn) deal saw WeWork co-founder Adam Neumann relegated to the position of "board observer". WeWork's aspirations to dominate the global office-share market have been battered after the company's value plummeted from $47bn in January, and plans for an initial public offering (IPO) in September were scrapped as it faced a ...

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Read more from Sky News : WeWork to cut 2,400 jobs in Softbank overhaul
Sky News : WeWork to cut 2,400 jobs in Softbank overhaul

Summary: WeWork is cutting 2,400 jobs globally, as owner Softbank tries to stem losses and cut costs at the troubled office-share startup.

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