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The Wing slashes staff

The Wing co-founders Lauren Kassan (L) and Audrey Gelman
(Credit: Sarah Jacobs/Business Insider)

The Wing has cut about half of its 150 full-time staff members and nearly all of its 300 hourly employees, Vice first reported. The co-working company and social club designs space and provides amenities with women’s needs in mind. 

  • Worth Noting: The founders said that 95 percent of revenue had disappeared overnight, and they “simply don’t know when or even if we’ll be able to reopen again.”
  • Private valuations are fickle: The Wing was valued at roughly $365 million in 2018, before reality entered the co-working space following WeWork’s failed IPO. WeWork recently sold its stake in the Wing at a valuation of around $165 million, Bloomberg noted.

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