RALEIGH – As WeWork gears up to launch its Raleigh office in Glenwood, the co-working office company has made cuts to its global workforce.

A WeWork spokesperson confirmed to WRAL TechWire that the New York-based company has recently let go of 300 employees after conducting a “standard annual performance review.” WeWork emphasized the cuts were “performance related, not layoffs”.

Last November, WeWorks received a $3 billion injection from Softbank. It’s now valued at around $42 billion with 10,000 employees worldwide.

“Over the past nine years, WeWork has grown into one of the largest global physical networks thanks to the hard work and dedication of our team,” the spokesperson said. “We remain committed to continuing to grow and scale in 2019, including hiring an additional 6,000 employees.”

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WeWork’s “Meet and Greet” tonight in Raleigh

The news comes just as WeWork is continuing to expand in North Carolina – with two new locations set to open this summer. The first is in  Raleigh’s Glenwood district, and the second is another Durham location on 300 Morris Street.

The company already has a Charlotte office and launched a 58,000-square-foot workspace in the new One City Tower in Durham last October.

Tonight, WeWork is hosting a “Meet and Greet” to drum up interest at Boylan Bridge Brewpub at 201 South Boylan Avenue in Raleigh from 5.30-7.30 pm.

A rendering of the outdoor workspace at WeWork’s Glenwood office.

Renderings of the interior of WeWork’s new Glenwood office, which will be launched in the summer.

“We feel great about our expansion in the Triangle and are excited by the potential here,” said Bobby Condon, WeWork General Manager for the Southeast.

The two-level space in Raleigh is currently being renovated and will boast large glass walls, indoor and outdoor spaces, large communal areas and a large feature bookcase. There will also be natural wood finishes and unique, urban interiors including daybeds, woven textiles and Moroccan/Kilim-style rugs.

“While we’re a global company, WeWork is community-driven and operates with a local playbook,” said Condon. “We look forward to opening our two new locations in the area this summer.”

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