WeWork May Lay Off Thousands

[Leroy N. Soetoro]

https://www.nytimes.com/2019/11/17/business/wework-layoffs.html

The beleaguered office space company is said to be planning to cut its
work force by at least a third in a bid to stabilize its business.

WeWork is preparing to cut at least 4,000 people from its work force as it
tries to stabilize itself after the company’s breakneck growth racked up
heavy losses and led it to the brink of collapse, two people with
knowledge of the matter said.

The cuts are expected to be announced as early as this week and will take
place across WeWork’s sprawling global operation. Under the plan, the
company’s core business of subletting office space would lay off 2,000 to
2,500 employees, one of the people said. An additional 1,000 employees
will leave as WeWork sells or closes down noncore businesses, like a
private school in Manhattan that WeWork set up. Additionally, roughly
1,000 building maintenance employees will be transferred to an outside
contractor. Together, these employees would represent around a third of
the 12,500 people WeWork employed at the end of June.

But one of the people said the company could shed as many as 5,000 to
6,000 employees.

In an email to employees on Monday, the company’s executive chairman,
Marcelo Claure, said, “We have to make some necessary job eliminations.”
He said the cuts would begin this week in the United States but did not
say how many people would lose their jobs.


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Donald J. Trump, 304 electoral votes to 227, defeated compulsive liar in
denial Hillary Rodham Clinton on December 19th, 2016. The clown car
parade of the democrat party ran out of gas and got run over by a Trump
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Congratulations President Trump. Thank you for cleaning up the disaster
of the Obama presidency.

The Obama-led Committee on Foreign Investment in the United States (CFIUS)
approved Uranium One in fall 2010. With a little luck, we'll see
compulsive liar Hillary Clinton in jail before she dies.

Under Barack Obama's leadership, the United States of America became the
The World According To Garp.

Obama increased total debt from $10 trillion to $20 trillion in the eight
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