WeWork is planning to cut as many as 4,000 jobs as part of an aggressive turnaround plan put in place by Japan’s SoftBank after it took control of the co-working business this week. According to people with direct knowledge of its plans, the job cuts will amount to just under 30% of WeWork’s global workforce of around 14,000 people. About 1,000 of the cuts will hit employees such as janitorial staff, which WeWork is looking to move to an outsourcing company. © The Financial Times Ltd. 2019. FT and Financial Times are trademarks of the Financial Times Ltd. Not to be redistributed, copied or modified in any way.

Source: Los Angeles Times October 23, 2019 18:22 UTC