Industrious Makes Staffing Cuts Affecting 30% of Workforce

The co-working business is rapidly retrenching. Industrious joins a long list of startups making deep cuts in recent weeks. Industrious is dismissing or furloughing about 30% of staff and reducing salaries in response to the economic slowdown caused by the coronavirus pandemic, the company said Thursday. The New York-based startup, which designs and manages office spaces for businesses seeking short-term and flexible leases, is backed by more than $200 million from investors such as Brookfield Properties.