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WeWork slashes workforce

Co-working giant fired 300 employees

WeWork co-founders Miguel McKelvey and Adam Neumann (Credit: FT)

WeWork has laid off roughly 3 percent of its workforce. The company explained the decision as performance-related, according to a report by the FastCompany.

Dig Deeper: A WeWork spokesman said the company still has 10,000 employees, and plans to add 6,000 this year. Many of those let go were engineers and designers.

Be Smart: This comes on the heels of SoftBank slashing their proposed investment from $16 billion to $2 billion. Masa’s SoftBank has now invested more than $10 billion into the co-working company.

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