Illustration by Alex Castro / The Verge
WeWork is being hit with layoffs today, according to CNBC, marking the latest downturn in the wake of the company’s disastrous attempted IPO.
The network reported that the company is letting 2,400 employees go. Layoffs at the company have been rumored for months. In September, The Information reported that executives considered laying off as much as one-third of the company’s workforce, or around 5,000 employees.
The layoffs are only the latest moment in a precipitous fall for the company, which at one point this year, was valued at $50 billion, but has since become a symbol of corporate mismanagement. Facing questions about its leadership and business plan, WeWork postponed a planned IPO earlier…