WeWork’s layoffs officially began on Monday, sources say, and hit the corporate technology, HR and security departments.
The bulk of the layoffs are still to come, but one employee called this first round a small mercy, as these people will not be required to work long hours executing the layoff only to be laid off themselves at the end.
The long-awaited layoffs at WeWork began on Monday, multiple sources told Business Insider.
One person called this first round a “Small mercy” noting that these people will not be asked to put in brutal hours to help the company execute the layoffs, only to be released themselves at the end.
As Recode had reported, employees are being given four months severance, regardless of tenure, sources tell Business Insider, and rank-and-file employees do not expect to receive stock options.
Business Insider previously reported that the company is holding an all-hands on Friday, according to a leaked email message sent by chairman Monday morning and seen by Business Insider.
The company is expected to layoff thousands of staffers, with news report estimates ranging from 4,000 to 6,000 people.
