RESEARCH TRIANGLE PARK – WeWork, the global provider of office space and services with a big operation in North Carolina, is reportedly preparing to cut thousands of jobs and at the same time faces a probe by the Securitiees and Exchange Commission, according to media reports.

The New York Times says some 4,000 of 12,000 jobs could be cut.

Meanwhile, Bloomberg News says the SEC is exploring whether WeWork committed possible violations as it prepared for an initial public offering of stock that never materialized.

A WeWork spokesperson in the Triangle declined to comment.

“Under the plan, the company’s core business of subletting office space would lay off 2,000 to 2,500 employees, one of the people said,” The New York Times reported.

“An additional 1,000 employees will leave as WeWork sells or closes down noncore businesses, like a private school in Manhattan that WeWork set up. Additionally, roughly 1,000 building maintenance employees will be transferred to an outside contractor. Together, these employees would represent around a third of the 12,500 people WeWork employed at the end of June.”

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Then there is the possible SEC action.

“WeWork’s business and disclosure to investors are under review in light of media reports about possible conflicts of interest and the company’s heavy fundraising before its attempt to go public, ” says venture capital news site PitchBook, citing the Bloomberg report.

“WeWork has reportedly hired Andrew Ceresney, a Wall Street lawyer who is a former head of the SEC’s enforcement division.”

CNBC, meanwhile is reporting that WeWork failed in an attempt to land T-Mobile CEO John Legere as its new leader.

“CNBC, citing unnamed sources, reported he has no plans to leave the telecom company,” PitchBook noted.

WeWork, drawing on financial support from SoftBank, its big investor, faces a mixed bag of financials as it fights to get its fiscal house in order.

According to a recent report to debtholders obtained by The Associated Press, WeWork has racked up $1.25 billion in losses in the third quarter, as the office-sharing company spent heavily in pursuit of aggressive growth.

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However, revenue spiked an eye-popping 94 percent, reaching $934 million in the same period compared with last year.

WeWork has a large presence in the Research Triangle Park region as well as an operation in Charlotte.

Back in July, it opened its second office in Durham – WeWork Durham.ID – at 300 Morris Street.

The 80,000-square-foot office occupies three floors in the newly constructed seven-story Morris building, boasting sweeping views of downtown Durham and the iconic American Tobacco tower. That same week, WeWork also launched its Raleigh office – WeWork One Glenwood at 1 Glenwood Ave.

And if that wasn’t enough, it opened a third space in Charlotte in August.

That brings the sum total of WeWork locations to six in North Carolina, all this coming online in less than two years.