logo
Plus   Neg
Share
Email

WeWork Makes Small Round Of Job Cuts : Report

WeWork made a small round of job cuts in a New York City unit that manages on-demand office rentals, after announcing plans to delay an initial public offering, Bloomberg reported citing three people familiar with the matter.

The dismissals affected fewer than 10 employees in the WeWork Now division, the report said.

WeWork planned to start promoting the share sale with institutional investors on Monday and to list shares within the following week. Wework hopes to complete the share sale by the end of this year, other reports said.

Wework was reportedly seeking to raise between $3 billion and $4 billion from the listing with the entire company valued at $20 billion. The valuation has plunged from $47 billion in January.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
European Union has ordered Broadcom (AVG) to stop applying certain exclusivity agreements with six of its main customers. According to European Union, this will prevent serious and irreparable harm to competition likely to be caused by Broadcom's conduct. In June, the European Commission opened... Amazon.com Inc. (AMZN) announced that it will live stream behind the scenes of its Robotics Fulfillment Center to for students pursuing STEM and Computer Science education. Amazon said on Thursday, October 17 at 7:00 p.m. ET / 4:00 p.m. PT, teachers and students can go online to Twitch to watch and... Walmart has rolled back prices on more than 200 additional toys in stores and online as it braces for the upcoming holiday season. The retail giant is now offering more than 400 toys at a special price, thanks to its already existing rollbacks on toys. In August, Walmart unveiled its list of top-rated toys for 2019 that were selected by kids.
Follow RTT
>