A sign on a WeWork co-working space in New York in September. The We Company, the parent company of WeWork, abandoned an IPO after investors and analysts questioned the company’s value. – EPA pic, November 22, 2019.
EMBATTLED office-sharing firm WeWork will lay off 2,400 employees worldwide – about a fifth of its workforce – as it struggles to reorganise amid mounting losses, the company said yesterday. The painful job cuts underscore the rapid decline of what had been one of the United States’ most celebrated start-ups which put a mammoth footprint in the commercial real estate of major cities around the globe but recently had to cancel its debut on Wall Street.
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