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