WeWork to lay off 2,400 employees globally

WeWork to lay off 2,400 employees globally

Coffee dispensers sit on a counter in a kitchen area at the Embarcadero WeWork Cos Inc. offices in San Francisco, California, U.S., on Thursday, Oct. 19, 2017. Photographer: Mike Short/Bloomberg

Long-anticipated layoffs at WeWork have begun, part of the struggling office-sharing company’s plan to cut costs after staggering losses.

WeWork said Thursday that the reductions will affect 2,400 employees globally. They will receive severance and continued benefits and other forms of assistance, according to an emailed statement.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter