MS Excel
What do you mean by a Workspace?

Group of Columns
Group of Workbooks
Group of Worksheets
Group of Rows

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MS Excel
If you need to remove only the formatting done in a range (numbers and formula typed there should not be removed), you must

From Edit menu choose Delete
Click on Remove Formatting tool on Standard Toolbar
From Edit menu choose Clear and then Formats
Double click the Format Painter and then press Esc key in keyboard

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