SoftBank to go ahead with WeWork stock tender offer this week
SoftBank Group Corp. will this week launch a previously agreed tender offer for as much as $3 billion of WeWork shares, including up to $970 million owned by the office sharing company's cofounder, Adam Neumann, two people familiar with the matter said. The tender offer ...
WeWork to lay off 2,400 employees globally in SoftBank revamp
WeWork said on Thursday it is laying off around 2,400 employees globally, as the office-sharing company seeks to drastically cut costs and stabilize its business after it transformed from a Wall Street darling into a pariah in a matter of weeks. The long-anticipated layoffs are ...
WeWork's path to turnaround challenged by tainted 'cool factor'
Co-working wasn't new when WeWork Cos. came along, but the office-sharing company made it cool, enticing millennials and entrepreneurs with amenities like hip furniture, beer on tap and puppy parties. Now, after a botched initial public offering, the ouster of founder Adam Neumann and a ...
WeWork accepts $9.5 billion rescue package, with SoftBank taking 80% stake
The SoftBank deal, which includes $5 billion in new financing and an acceleration of a $1.5 billion existing commitment, grants a reprieve to cash-strapped WeWork parent We Co.
WeWork's parent, The We Co., said Monday it will file to withdraw its initial public offering, a week after the SoftBank-backed office-sharing startup ousted founder Adam Neumann as its chief executive officer. The withdrawal of its IPO prospectus formalizes the end of the New York-based ...
SoftBank plans to name former Sprint boss to help fix WeWork
SoftBank Group Corp. is tapping Marcelo Claure to help turn around WeWork after ousting co-founder and Chief Executive Officer Adam Neumann from the corner office last week. Masayoshi Son, the head of SoftBank, WeWork's largest investor, has asked the former chief executive officer of Sprint ...
WeWork's Adam Neumann steps down as CEO, with IPO on the line
Adam Neumann, the charismatic entrepreneur who led WeWork to become one of the world's most valuable startups, stepped down Tuesday as chief executive officer after a plan to take the company public hit a wall. Members of WeWork's board had been pressuring Neumann in recent ...
SoftBank reportedly turns against WeWork's parent CEO, Adam Neumann
SoftBank Group, the biggest investor in WeWork owner We Co., is exploring ways to replace Adam Neumann as chief executive of the U.S. office-sharing startup, according to four sources. The rare showdown between SoftBank and one of its biggest investments comes after We Co. postponed ...
