SoftBank to go ahead with WeWork stock tender offer this week

Business Nov 25, 2019

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

Business Nov 22, 2019

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 throws in the towel on its ill-fated IPO

Business Oct 1, 2019

WeWork throws in the towel on its ill-fated IPO

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

Business / Corporate Sep 30, 2019

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 ...