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 says job cuts to begin 'in earnest' this week in U.S.

Business Nov 19, 2019

WeWork says job cuts to begin 'in earnest' this week in U.S.

WeWork said it will begin job cuts "in earnest" this week in the U.S., a bid by the struggling office-sharing startup to stabilize its business amid staggering losses. Executive Chairman Marcelo Claure told staff in an email Monday that the process, which will involve eliminating ...