Thread regarding WeWork layoffs

WeWork to Lay off One Third of the Entire Workforce

That's the news today - aside from Adam Newman stepping down from the CEO role, there are rumors that there will be an effort to reign in costs - so they will go after resources... The word on the street is that about 1/3 of the entire workforce will be axed - given the current situation I'd say the reports are accurate.

Now, there is a bigger question looming as well. Is the company going to have enough cash to survive. I seriously doubt it and I think we'll see the whole thing unwind very quickly (people are already quitting and this will accelerate, especially in a red hot labor market here in NYC). I do not have any track in financial forecasting but if you ask me what will happen I'd bet that WeWork will go bankrupt before 2020. Any kind of bankruptcy would trigger massive layoffs at the company.

Not sure, but that's my gut feeling... Chime in if you'd like, I know many have different opinion.

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Post ID: @OP+11cCp9p5

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Full of narcissistic millennials that are all on Greenwich Me Time! I work at one of their buildings, and they came in with this chest pounding attitude, and the my way or the highway construction ethic. I like the idea of co-working but WeWork is poorly executed

Post ID: @3bpw+11cCp9p5

I honestly think they will fold before the end of the year and we'll have 5,000 layoffs (everyone employed by WeWork)

Post ID: @2hwi+11cCp9p5

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