WeWork reportedly planning to layoff thousands as it attempts to reverse its fortunes

WeWork is preparing to cut at least 4,000 jobs in a bid to achieve financial stability and those layoffs could be announced as early as this week, the New York Times reported.Last week, WeWork told investors it lost $1.25 billion on revenue of $934 million in the third quarter — losses were up more than 150% from the same period a year ago.David 'Dee' Delgado | Bloomberg | Getty Images

WeWork is preparing to cut at least 4,000 jobs in a bid to achieve financial stability and those layoffs could be announced as early as this week,The start-up could lay off 2,000 to 2,500 employees in its main office-space renting business, two people with knowledge of the matter told the Times.

Each morning, the “Beyond the Valley” newsletter brings you all the latest from the vast, dynamic world of tech – outside the Silicon Valley.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

One chart shows just how dire WeWork's revenue situation is - Business InsiderWeWork now spends about $2.25 in order to generate every $1 in revenue.
Source: BusinessInsider - 🏆 729. / 51 Read more »

The Top Travel Trends for 2020: Where to Go and What to DoTravel in 2020 aims for authenticity and intention, according to luxury travel company Virtuoso. Consider exploring multiple countries in one trip, or book a getaway to celebrate a special occasion.
Source: FashionCanada - 🏆 35. / 63 Read more »

China central bank cuts 7-day reverse repo rate for first time since 2015China's central bank lowered on Monday the interest rate on reverse repurch...
Source: Reuters - 🏆 2. / 97 Read more »

The 'Game of Thrones' Prequel Will Chronicle the Rise of the TargaryensHouse of the Dragon: Everything We Know About the Game of Thrones Prequel
Source: ELLE Magazine (US) - 🏆 472. / 51 Read more »