A WeWork emblem is seen at a WeWork workplace in San Francisco, California, U.S. September 30, 2019. REUTERS/Kate Munsch
(Reuters) – WeWork’s mum or dad The We Company’s new administration workforce is contemplating curbing its enlargement plans in China as part of the corporate’s new emphasis on controlling prices, the Wall Street Journal reported, citing individuals conversant in the matter.
After the corporate’s resolution to withdraw its preliminary public providing and the latest departure of its founder Adam Neumann as Chief Executive Officer, We Company is presently seeking to trim its workforce and decelerate its enlargement in order to burn by way of much less money and be much less depending on recent funding.
The We Company didn’t instantly reply to a Reuters request for remark.
Reporting by Shanti S Nair in Bengaluru; Editing by Muralikumar Anantharaman