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WeWork Is Working on Plan to Reprice Stock Options

Inside The Japan Ocean Gate Minatomirai Office Of WeWork
Photographer: Kiyoshi Ota/Bloomberg

WeWork is working on a plan to reprice stock options held by employees, including those who have left, Executive Chairman Marcelo Claure told its staff on Friday.

The office-sharing giant plans to set a new strike price of $4.12 for stock options held by employees who have departed or are leaving as part of a sweeping round of 2,400 layoffs, said people familiar with the matter. It will also apply to current employees, said the people, who requested anonymity because the matter is private.