WeWork’s India franchise said on Tuesday (May 19) that it laid off 100 employees, or 20% of its workforce, as the office-sharing startup joins a slew of firms that are cutting costs and revamping operations as a prolonged nationwide lock down to curb the Corona virus has kept people indoors.

A number of Indian startups, including restaurant aggregator Zomato and food delivery service Swiggy, have also cut down their employees, as they reshape their business in response to the COVID-19 pandemic, which has forced 1.3 billion Indians indoors and crippled business.

“We have optimized and planned our team strength based on the core business, as we continue to execute our long-term business strategy in India and aim to be profitable by early 2021,” said Karan Virwani, chief executive at WeWork India.

In October last year, WeWork India’s chief shareholder Jitu Virwani had said the company would be profitable by end of 2020.


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