We Don't Work.
WeWork is planning to lay off up to 25% of its employees
41–49 of 49 posts
Re: WeWork is planning to lay off up to 25% of its employees
#42Running the numbers here. WeWork has 12.500 employees with 500 locations. That means on average 25 employees per location. That sounds absurd for workspace management, especially since construction / renovations / cleaning are most likely outsourced. Let's cut them some slack and assume that half the workforce is focused on expansion (6250 employees) and that one in 25 are secretarial or HR (i.e. not related to daily…
It takes ~11 people to staff two 24/7 desks. That’s just having two people in desks 24/7. 10 workers per location isn’t too too wacky.
Re: WeWork is planning to lay off up to 25% of its employees
#43WeOuttaWork
Re: WeWork is planning to lay off up to 25% of its employees
#44Running the numbers here. WeWork has 12.500 employees with 500 locations. That means on average 25 employees per location. That sounds absurd for workspace management, especially since construction / renovations / cleaning are most likely outsourced. Let's cut them some slack and assume that half the workforce is focused on expansion (6250 employees) and that one in 25 are secretarial or HR (i.e. not related to daily…
And yet, I had to call / email dozens of time to get a hold of WeLive leasing agent to rent a ~$4,000 month studio apartment
Re: WeWork is planning to lay off up to 25% of its employees
#45Earlier quoted context omitted.
Surely WeWork has most of their employees in just a few HQs? I'd guess they have a lot less than 25 people per WeWork coworking office.
Sorry in case I wasn't clear. I meant that, on average, 25 WeWork employees manage / oversee a single WeWork location, not that they actually work in that location.
I've been to a location and it seemed more like <6. Maybe <12 if they run shifts. (I could be very wrong). The other 13 would be at the HQ, doing coding or marketing or something
Re: WeWork is planning to lay off up to 25% of its employees
#46Running the numbers here. WeWork has 12.500 employees with 500 locations. That means on average 25 employees per location. That sounds absurd for workspace management, especially since construction / renovations / cleaning are most likely outsourced. Let's cut them some slack and assume that half the workforce is focused on expansion (6250 employees) and that one in 25 are secretarial or HR (i.e. not related to daily…
It takes ~11 people to staff two 24/7 desks. That’s just having two people in desks 24/7. 10 workers per location isn’t too too wacky.
Are WeWork offices 24/7? I thought they were only open certain times of the day.
Re: WeWork is planning to lay off up to 25% of its employees
#47http://nymag.com/intelligencer/2019/09/what-happened-at-we-w... is a really good read.
Neumann does come away as a bit over the top:
> “I rarely give away my power, and when I do, it’s to my wife,” who he said was “99 percent right,” according to multiple people who watched the speech. Neumann concluded with yet another moment of life coaching: “Change your inner self. Change the world.”
> "The S-1 detailed the extent to which Neumann controlled his company, and had benefited personally from his position: he had bought buildings in which WeWork then took out leases, and received $5.9 million in exchange for selling a set of We-related trademarks to his own company. One clause called for Rebekah to name a successor in the event of Adam’s death. The entire thing was dedicated, in an epigram, “to the energy of We — greater than any one of us but inside each of us.”"
Re: WeWork is planning to lay off up to 25% of its employees
#48Earlier quoted context omitted.
> there’s no magic secret sauce IP or tech that makes WeWork special here Indeed; they don't really have a moat. For customers who travel a lot, there might be some network effects, but I suspect they're the minority.
I think there could be something to economies of scale, but in the How I Built That podcase, they brag about every space is bespoke! I’d pay for a version of WeWork that let me camp out for $10 get self serve coffee but was drab, boring, and decidedly antisocial
Basically a library next to a coffee shop?
Re: WeWork is planning to lay off up to 25% of its employees
#49Earlier quoted context omitted.
I think there could be something to economies of scale, but in the How I Built That podcase, they brag about every space is bespoke! I’d pay for a version of WeWork that let me camp out for $10 get self serve coffee but was drab, boring, and decidedly antisocial
Basically a library next to a coffee shop?
More libraries need to sell coffee :)