WeWork Plans to Expand Into Pro Gaming as It Lays Off Thousands: Report
WeWork is reportedly planning to expand its business into professional gaming. According to Bloomberg, the company has applied to trademark “Play by We,” a riff on the name of its parent the We Company, and hired staffers to pursue the venture. The details of the business are unclear, though the esports industry often requires flexible event space for tournaments and conferences.
WeWork’s executives have said they plan to refocus on the core business of leasing office space, and the company is slated to lay off thousands of its employees. WeWork has struggled since a failed IPO attempt in August. In the fallout, its CEO resigned, its valuation fell from $47 billion to $8 billion, and its largest investor has taken over the business after a bailout.