WeWork's Adam Neumann got $1.7 billion. 2,400 employees just got fired.

WeWork is laying off thousands of its employees, just months after its embattled former CEO and co-founder walked away with $1.7 billion.

The struggling office-sharing startup confirmed that it's letting 2,400 employees go, according to a report by CNBC. A WeWork spokesperson told CNBC that the layoffs were being made in order to “create a more efficient organization.”

The layoffs come following WeWork’s botched IPO attempt this summer. The company, which was valued at around $50 billion just earlier this year, ended up pulling the initial public offering, but not before shining a light on its big financial losses and corporate mismanagement run amok. Read more...