November 21, 2019 / 4:00 PM / 23 days ago

WeWork says to layoff 2,400 employees globally

NEW YORK, Nov 21 (Reuters) - WeWork said on Thursday it is laying off around 2,400 employees globally, as the office-sharing company seeks to drastically cut costs and stabilize its business after it transformed from being a Wall Street darling into a pariah in a matter of weeks.

“As part of our renewed focus on the core WeWork business, and as we have previously shared with employees, the company is making necessary layoffs to create a more efficient organization,” a company spokeswoman said in a statement.

“This workforce reduction affects approximately 2,400 employees globally, who will receive severance, continued benefits, and other forms of assistance to aid in their career transition,” the New York-based company added. (Reporting by Joshua Franklin in New York Editing by Marguerita Choy)

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