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WeWork Cutting 30% Of its Staff

WeWork will reportedly layoff 30% of its staffers, or 4,000 jobs, just after approving a bailout from its largest backer SoftBank. Click To Tweet

Around 1,000 of those positions will impact the maintenance staff as cleaning operations will be outsourced going forward. Currently, the company employees around 12,500 people.

The bailout deal involved SoftBank taking up an 80% stake in the coworking company, as well as paying former CEO Adam Neumann $1.7 billion to step down from the firm’s board. He will maintain his role as “board observer.”

ABOUT Aayat Ali
Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces. Feel free to reach out to her at [email protected] View all posts by Aayat Ali

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