WeWork to begin US job cuts 'in earnest' this week to stabilise business

WeWork employees are accustomed to routine firings, unlike at the typical startup in growth mode.

WeWork said it will begin job cuts “in earnest” this week in the US, a bid by the struggling office-sharing startup to stabilize its business amid staggering losses. Executive Chairman Marcelo Claure told staff in an email Monday that the process, which will involve eliminating and scaling back some functions and responsibilities, “will make us stronger and better able to generate even more opportunities over the coming months and years.”
 

Soon after withdrawing its registration for an initial public offering in September, WeWork told staff to brace for extensive job cuts. People familiar with the matter have said they could