The We Company layoffs are just "business as usual"

March 3, 2019

The We Company, formerly known as WeWork, has laid off around 3% of its employees following a sign-on of funding. The company says that the employee cuts do not mean We Company is in any immediate danger, but is part of an annual performance review.

The We Company is a platform for creators that transforms buildings into dynamic environments for creativity, focus, and collaboration. The company transform buildings into beautiful, collaborative workspaces and provide infrastructure, services, events, and tech so their members can focus on doing what they love.

The layoffs were first reported by The Real Deal. Though a small fraction of the We Company’s 10,000 person employee base, it is the largest number of people who have been laid off from the company.  The last notable cuts came in 2016, when the company laid off 7% of staff.

The We Company expects to add 6,000 new employees to its rosters this year and plans to have hired back the number of employees lost by the end of the month.

In a statement, a company representative said:

Over the past nine years, WeWork has grown into one of the largest global physical networks thanks to the hard work and dedication of our team. WeWork recently conducted a standard annual performance review process. 

Read more here

Join us in Bangkok the 19th to the 21st of March for the Property Portal Watch Conference.

Bkk 2019 Ppw Banner 02062019

March 3, 2019

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Developer Generic Background
Product Roundup: Hemnet, Green Acres, FazWaz, Property Sorted and Leboncoin

Here are the product and services updates we've spotted coming from real estate marketplaces around the world this week...  ...

Read More
Affordability Calculators 1 1
Affordability Fears Are Growing – Are Real Estate Portals Paying Attention?

Only around 40% of listings on Zillow are affordable. Or, to put it another way, only around 40% of properties...

Read More
People Roundup Hero Image 3 April 25 2
People on the Move Roundup: REW, ImmoScout24 and REA India

This week's roundup of real estate marketplace comings and goings features executives on the move in Canada, Germany and India......

Read More
Cooperrocketacq 3
Rocket to Acquire Mr Cooper Mortgage Service for $9.4 Billion

Rocket Companies has announced a $9.4 billion all-share deal to acquire Mr. Cooper, the largest mortgage servicer in the United...

Read More

Editor's Pick