WeWork plans to lay off thousands of cost savings: NEW
Signage is seen at the entrance to the WeWork offices on Broad Street in New York.
David & # 39; Dee & # 39; Delgado | Bloomberg | Getty Images
WeWork is preparing to cut at least 4,000 jobs in an effort to achieve financial stability, and these layoffs could be announced this week already, The New York Times reported late Sunday.
The startup could lay off 2,000 to 2,500 employees in the main office rental business, two people with knowledge of the case told the Times. An additional 1[ads1],000 employees are expected to leave while WeWork sells or closes noncore businesses such as a Manhattan, New York, private school, while an additional 1,000 building maintenance employees will be transferred to an outside contractor, according to the Times.
As many as 6,000 employees could eventually be laid off, one person told the Times.
WeWork declined to comment when contacted by CNBC.
Last week, WeWork told investors that they lost $ 1.25 billion in revenue of $ 934 million in the third quarter – the losses were more than 150% from the same period a year ago.
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