Co-working juggernaut WeWork (now known as the We Company) has laid-off 3 percent of its global workforce or roughly 300 employees, the company told TechCrunch. The heavily-funded business, most recently valued at a whopping $47 billion, employs 10,000 people around the world.
Headquartered in New York, the lay-offs were performance-related, part of the company’s perfunctory process of shedding dead weight. Among the departments impacted by the cuts were WeWork’s engineering team, user experience design and more.