Global Job Cut Begins; "We are Grateful for the Important Roles," Reads Layoff Statement

Two days ago we had reported that WeWork was planning to layoff 4000 employees since the company was suffering a huge loss of US$1.25 billion on revenue. We had also attached the memo by Chairman Marcelo Claure to the employees. The process has began today according to the official statement by WeWork to lay off 2400 employees globally.

"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 WeWork spokesperson was quoted by Foxnews today.

The statements of the spokesperson further added that "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".

In fact, the spokesperson also credited the company's employees saying "These are incredibly talented professionals and we are grateful for the important roles they have played in building WeWork over the last decade." According to reports, WeWork has a global workforce of  12,500 employees and 2400 may be seen as the initial step in the layoff process.