WeWork laid off most of the staff of facilities-management startup Managed by Q as it was selling the business to Managed by Q competitor, Eden. WeWork laid off more than 75 employees. Eden offered positions to the roughly 25 remaining employees from its former competitor. WeWork first bought Managed by Q for $220 million in April 2019. It sold the company to Eden last week for $25 million.Visit Business Insider’s homepage for more stories.
WeWork slashed most of the staff of Managed by Q as it was unloading the business at a huge discount to what it paid for it. More than 75 of Managed by Q’s roughly 100 employees were laid off, according to a source with direct knowledge of the layoffs.The employees will receive severance packages from WeWork that will be in line with the packages the coworking giant provided in its massive November layoffs, a second source familiar with the matter said. The remaining Managed by Q employees, roughly 25 of them, were of
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