WeWork Shutters Its restaurant based coworking subsidiary, Spacious, and lays off the entire staff of about 50 employees

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WeWork is shuttering its coworking subsidiary Spacious and laying off all the startup’s approximately 50 employees, the company confirmed to Business Insider on Thursday.

Spacious CEO Preston Pesek announced the closure to employees at an all-hands meeting on Wednesday evening, a current employee told Business Insider. The decision is part of WeWork’s broader attempts to refocus on its core business after the company’s failed attempt at an initial public offering earlier this year, a representative said in a statement.

Read the full story on Business Insider Premium.

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