Masayoshi Son ’s vision for WeWork has been outlined in a memo sent to staff by SoftBank COO , Marcelo Claure , who has taken over as WeWork chairman . The company needs to “ right size ” in order to achieve positive free cash flow and growth , Son said . He confirmed there would be job cuts , but said it was not yet clear how many . and yes, we have to right-size the business to achieve positive free cash flow and profitability. Reports suggest it could be as high as 4,000 , or a third of the workforce . Previously , job cuts had been estimated at around 2,000 , although the cuts had been postponed due to lack of cash to pay severance . WeWork has lacked focus on the core business , Claure said , adding that turnaround plans include prioritising the US , Europe and Japan , while stepping back from other regions .
Masayoshi Son ’s vision for WeWork has been outlined in a memo sent to staff by SoftBank COO , Marcelo Claure , who has taken over as WeWork chairman . The company needs to “ right size ” in order to achieve positive free cash flow and growth , Son said . He confirmed there would be job cuts , but said it was not yet clear how many . Reports suggest it could be as high as 4,000 , or a third of the workforce . Previously , job cuts had been estimated at around 2,000 , although the cuts had been postponed due to lack of cash to pay severance . WeWork has lacked focus on the core business , Claure said , adding that turnaround plans include prioritising the US , Europe and Japan , while stepping back from other regions .