WeWork Is Laying Off 2400 People!

WeWork Is Laying Off 2400 People!

Startup WeWork attempted an IPO earlier this year. Unfortunately, things did not go well for the office sharing company. The IPO paperwork brought up all kinds of bad business practices, and the company’s CEO, Adam Neumann, was ousted in September. WeWork sustained $1.25 Billion in losses during Q3 of 2019. Following Neumann’s departure, the primary investor Softbank took control the company to keep it afloat. This week, they announced plans to lay off 2400 workers before the end of the year. This is approximately 20% of WeWork’s workforce.

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avatar KALE: A geek who works in the IT field and lives in Dallas, TX. He is also a music geek who has played in several local bands. Previous to his IT career, Kale worked as a photojournalist. He brings technical advice and artistic counterpoint to the podcast.