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November 8, 2019 10:25 am

WeWork Lays Off Employees in New York

avatar by Hager Ravet / CTech

Adam Neumann, CEO of WeWork, speaks to guests during the TechCrunch Disrupt event in Manhattan, in New York City, NY, US. May 15, 2017. Photo: REUTERS/Eduardo Munoz/File Photo.

CTech – WeWork’s massive layoff plan has commenced in New York. A person familiar with the matter told Calcalist on condition of anonymity that WeWork employees in New York were called into a meeting on Thursday where notices were handed to some.

WeWork subsidiaries in New York have also begun reducing their ranks. That person, an employee at coding course developer Flatiron School, told Calcalist that half the company, some 80 people, were handed layoff notices and promised four-month severance pay on Thursday. WeWork bought Flatiron School in 2017.
Multiple media outlets have reported in recent weeks that WeWork is expected to lay off over 25 percent of its employees, some 4,000 people. On Wednesday, the Financial Times reported that the company has already begun laying off employees in Europe, the Middle East, and Africa. Some 1,000 employees are expected to be cut in these regions.
The mass layoff operation has yet to reach Israel, where the company employs 270 people, according to several people familiar with the matter who spoke on condition of anonymity. WeWork is not expected to shut down any of its coworking locations in Israel, and no change is expected to its planned expansion in the country, these people said. Last week, WeWork opened a new location is south Tel Aviv. Two additional locations are set to open in central Israel in 2020.
WeWork Israel declined Calcalist’s request for comment.

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