The company is reported to be employing about 10,000 people globally and are currently valued at a mind blowing $47 billion.
Headquartered in New York, the layoffs were performance-related, part of the company’s routine process of shedding underperformers.
Among the departments impacted by the cuts were WeWork’s engineering team, product and user experience design(too bad 😂😅).
The company is reported to have raised well over $8 billion in venture capital since it emerged. The business is backed significantly by the SoftBank Vision Fund, which invested $2 billion in WeWork as recently as January.