This large Indian co-working player to lay off 20% workforce
New Delhi: Corona virus pandemic could not have come at a worse time in India. The pandemic has already taken many jobs and now WeWork India plans to lay off about 20 percent of its workforce amid gloomy scenario, according to a new report by Indo Asian New Service.
The CEO of WeWok India Karan Virwani said that the co-working player needs to bring out fundamental changes in its business and that includes getting rid of some of the employees. He talked about a focused strategy to get the business going in the current harsh business environment.
The company will let go of employees in various departments and roles. The company is planning to execute its long term business strategy in India and targets profitability by 2021.
WeWork India is a joint venture between USA’s We Company and Bengaluru-based Embassy Group. The Indian real estate player holds about 90 percent stake in the joint venture.
WeWork India has about 34 co-working centres and 500 employees.