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Report: WeWork to lay off about 30% of global workforce, prioritize 3 markets

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Report: WeWork to lay off about 30% of global workforce, prioritize 3 markets

Coworking giant WeWork Cos. Inc. aims to slash up to 4,000 jobs, representing almost 30% of its global workforce, and to refocus on three primary markets, namely the U.S., Europe and Japan, the Financial Times reported, citing people with direct knowledge of the company's plans.

The We Co. unit, which recently agreed to a $9.5 billion funding package from shareholder SoftBank Group Corp. after its postponed IPO, will pull back from China, India and most of Latin America, along with other regions, the publication added.

The unnamed sources told the FT that WeWork aims to increase its occupancy rates in its most important markets to approximately 90%.

WeWork declined to comment on the matter, according to the report.