WeWork is laying off 2,400 employees as it works to cut costs and right-size the business, CNBC.com reported. A WeWork spokesperson said that the cuts were being made as part of the company’s efforts to “create a more efficient organization” and refocus on the core office-sharing business. The job reductions represent 19 percent of WeWork’s total workforce, which amounted to 12,500 employees as of June 30, according to an SEC filing. Leading up to the announcement, reports of forthcoming job cuts had been circulating for weeks. The <em>New York Times</em> reported on Sunday that WeWork could cut at least 4,000 jobs across its core office-sharing business and some side ventures. In October, Marcelo Claure, WeWork’s new executive chairman, warned that layoffs would be on the way but didn’t say how many would be announced.
