WeWork Layoffs 2023: What to Know About the Latest WE Job Cuts


  • WeWork (WE) layoffs include some 300 employees.
  • That figure represents nearly 7% of the company’s workers.
  • These layoffs come as the company seeks to streamline its operations.
Image of WeWork logo on the side of a glass building. WeWork Layoffs.

Source: photobyphm / Shutterstock.com

WeWork (NYSE:WE) layoffs are on the way. The company just revealed new job cuts and is preparing to release its latest earnings report.

According to a press release from WeWork, these layoffs will see the company reduce its global workforce by 300 employees. That represents roughly 6.8% of the company’s workers based on the latest employee data.

WeWork notes that these actions are part of its efforts to optimize its portfolio and streamline operations. The company also points out that preliminary revenue and adjusted EBITDA in the fourth quarter have exceeded guidance.

It’s still unknown when these layoffs will take place, but WeWork may reveal more details during its Q4 earnings call. The call is set to take place on Feb. 16 at 8:00 a.m. Eastern.

How This Affects WE Stock

As of Friday morning trading, news of WeWork layoffs isn’t having a major effect on WE stock. Only about 200,000 shares have changed hands as of this writing. That’s miniscule compared to the daily average trading volume of 8.5 million shares. WE stock is only down slightly as of Friday morning as well.

WeWork’s latest layoffs announcement has it following a recent trend. Several companies have been cutting jobs as they deal with the effects of inflation and more. Investors will likely hear about more layoffs from companies in the coming weeks.

Investors searching for all of the latest stock market news are in luck!

InvestorPlace is home to all of the hottest stock market news traders need to know about on Friday! That includes what’s moving shares of Bed Bath & Beyond (NASDAQ:BBBY), NexImmune (NASDAQ:NEXI) and Tempo Automation (NASDAQ:TMPO) stock today. You can catch up on all of that news at the links below!

More Friday Stock Market News

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/01/wework-layoffs-2023-what-to-know-about-the-latest-we-job-cuts/.

©2024 InvestorPlace Media, LLC