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Huge cuts could hit WeWork’s staff

The beleaguered office space company is said to be planning to cut its work force by at least a third in a bid to stabilize its business, Peter Eavis and Mike Isaac of the NYT report.

The company is preparing to cut at least 4,000 jobs, with the layoffs expected to be announced as early as this week, Mr. Eavis and Mr. Isaac write, citing unnamed sources. (One source said the number could reach 5,000 to 6,000.)

• “Under the plan, the company’s core business of subletting office space would lay off 2,000 to 2,500 employees, one of the people said.”

• “An additional 1,000 employees will leave as WeWork sells or closes down noncore businesses, like a private school in Manhattan that WeWork set up.”