The Latest Updates from WeWork

WeWork to Terminate 10-15 Percent of its Leases
WeWork is reviewing about 100 leases around the globe and could pull out of some of them as it works to stem its losses, the company confirmed, according to CNBC.

The move could lead to additional layoffs at the company, the Information said. Last month, WeWork cut 2,400 jobs, or 19% of its total workforce, which amounted to 12,500 employees as of June 30, according to an SEC filing.

WeWork Shuts Down Restaurant Coworking Startup Spacious
WeWork is closing its restaurant coworking startup Spacious, after acquiring the company only around four months prior. It’s the latest sign that the troubled company is cutting costs by offloading the plethora of business it rapidly acquired in the past few years, reported Restaurant Dive.

WeWork to Lay Off More than 900 Employees in New York
Over 900 New York-based WeWork employees will lose their jobs according to Quartz.

Last month, the coworking giant announced it would be laying off about 2,400 employees across the company. The new filing specified that 911 positions in Manhattan and Queens would be affected.

More than 400 layoffs are expected to take place on February 21 and March 2, 2020. Additionally, 262 employees that will lose their jobs will be offered transitional positions at third-party vendors.

The majority of the layoffs will take place at the company’s 115 West 18th Street location, where 414 jobs will be cut.