• Reuters

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WeWork said on Thursday it is laying off around 2,400 employees globally, as the office-sharing company seeks to drastically cut costs and stabilize its business after it transformed from a Wall Street darling into a pariah in a matter of weeks.

The long-anticipated layoffs are the biggest move yet by Japanese technology investment company SoftBank Group Corp., which is providing a $9.5 billion lifeline and will soon own about 80 percent of its shares, to make sure WeWork refocuses on its core business and on trying to make money.

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