Co-working major WeWork India has decided to lay off around 20 per cent of its staff as the coronavirus pandemic hits its businesses and revenues across the globe.

In an email, Karan Virwani, CEO, WeWork India, said that the company needs to make fundamental changes to the company by streamlining its workforce around a more focused business strategy which would entail reduction of its workforce across different roles by around 20 percent. Virwani also noted in the communication that the first priority of the company is toget the maximum value from its buildings and reduce costs by the business efficiently.

In a statement, the CEO said noted that the decisions impacting people are “some of the hardest” to make but it is required to build an effective and sustainable structure that supports the company and its members.