WeWork plans to lay off 4,000 staff - FT
- Country:
- United States
Office-sharing startup WeWork is planning to cut as many as 4,000 jobs as a part of a turnaround plan put in place by top shareholder Japan's SoftBank Group after it took control of the company this week, Financial Times reported on Wednesday. The job cut will amount to just under a third of WeWork's global workforce, and about 1,000 of the cuts will hit employees such as janitorial staff, the report said, citing people with direct knowledge of the plans.
SoftBank agreed to spend more than $10 billion to take over WeWork on Tuesday, giving a near $1.7 billion payoff to the startup's co-founder Adam Neumann to relinquish control. WeWork was not immediately available for comment.
Also Read: Here are 10 startups selected for Google Launchpad Accelerator India program
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
- READ MORE ON:
- startup
- SoftBank Group
- Japan
- employees
- staff
- Financial Times
ALSO READ
Baseball-Ohtani breaks record for most home runs by a Japanese player
North Korea fires missile off east coast, South Korea, Japan say
Japan's Antitrust Regulator Orders Google to Adjust Ad Search Restrictions Impacting Yahoo
North Korea fires missile off east coast, South Korea, Japan say
Helicopter Flight Recorders Show No Mechanical Failure in Japanese Navy Crash
Google News