WeWork had another layoff last week and one former exec says another one is coming soon.
One person believes that a big target for cuts will be the engineering and tech teams, as WeWork dispenses with the idea of being a tech company and focuses on real estate leases.Embattled real estate company WeWork is gearing up for another round of layoffs, says one of its former star executives, Dave Fano whoFano is in a position to know.
His program is open to all but it launched with a few beta cohorts, about 700 people all told, with four teacher/coaches, including himself. Given his close ties to WeWork, he says that quite a few of those beta testers are people who were laid off from WeWork, though many come from other startups or or non-tech industries, like movie theater workers.
And he thinks he'll gain even more clients from his alma mater. The service is supposed to cost $400 for the six-week course, but when he heard of another round of cuts in the works, he offered discounts of up to 75% off to former WeWork workers. He's offering discounts of 50-60% off to anyone who lost a job thanks to COVID-19.
This person thinks the one area that will be radically reduced is WeWork's engineering teams, with hundreds cut, as the new management is focusing on real estate leases, rather than on building a bunch of software products.
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