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Jeremy Fennema – Tech Innovation Alchemist
WeWork has had yet another round of layoffs this week as the coworking firm struggles to rebuild its tarnished reputation.
The cuts included community managers and real estate professionals in Canada and Europe, with a source claiming that there could be hundreds of people impacted.
“As WeWork continues to execute its strategic five-year plan, we are realigning certain functions and teams to reflect our business priorities,” said a company spokesperson.
Last September, WeWork had 14,500 employees as it became one of the most promising startups. Just two months later, it let go of 2,400 staffers.
The company has been looking for ways to cut costs after its botched IPO by selling off its numerous acquisitions and stakes in startups.
Last month, its largest backer SoftBank announced it would be walking away from a $3 billion tender offer to buy back shares.
