At a staff meeting on Tuesday, WeWork CEO Sandeep Mathrani announced there would be more staff cuts by the end of May.
“I know there is much speculation about how deep the cuts will be,” said Mathrani. “People are looking for a percentage or a number. The reality is, we’re looking at all of it…I want to do it once and know we have a company we can all move forward with.”
Kimberly Ross, the coworking firm’s chief financial officer, added that staff should be proactive and make cuts themselves.
“Let me be very clear: With or without Covid, we need to run a more disciplined business,” said Ross.
WeWork has had several rounds of layoffs in the months following its failed attempt to go public, with the first round being in November. Two layoff announcements also came in early and late March.
Additionally, SoftBank’s chief operating officer and WeWork’s executive chairman Marcelo Claure said that the Japanese conglomerate was fully supportive of its cost-cutting.