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WeWork to continue expansion in Singapore; market profitable despite global layoffs, says MD; S'pore market 'very profitable' so firm's layoffs last year have less impact here, says MD for region

Jan 14, 2020 - The Straits Times (Singapore)
Organizational Restructuring

Co-working space operator WeWork has been dogged by cash flow problems and was forced to lay off about a fifth of its workforce last year, but it remains in robust health in this region, it seems.

The layoffs - about 2,400 workers were affected - did not heavily affect Singapore and South-east Asia, said Mr Turochas Fuad, WeWork managing director for the region.

"Because of the fact that Singapore is a very profitable market, the impact was definitely less significant compared to t...