American workspace company
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WeWork is an American commercial real estate company that provides shared workspaces for technology startups and services for other enterprises. Founded in 2010, it is headquartered in New York City. As of 2018, WeWork managed over 4 million square metres. WeWork's parent company is The We Company.
SoftBank kicks off $21 bln T-Mobile stake sale
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WeWork Chairman Confirms Positive Cash Flow Is Due in 2021, Year Ahead of ScheduleWeWork has experienced a rather turbulent period but now it is expected that already in 2021 it will start getting profits. WeWork Chairman Marcelo Claure has told the Financial Times in an interview..
WeWork India lays off 20% of workforce as virus lockdowns weighWeWork's India franchise said on Tuesday it laid off 100 employees, or 20% of its workforce, as the office-sharing startup joins a slew of firms that are cutting costs and revamping operations as a..
WeWork Wants a Rent Break. Its Customers Do, Too.Some who rent space from the troubled company say it has not been generous with them even as it seeks concessions from building owners.
Adam Neumann, WeWork’s Former Chief, Sues SoftBankThe lawsuit accuses SoftBank of improperly backing out of an offer to buy shares held by Mr. Neumann, employees and other investors.
WeWork co-founder Neumann sues SoftBank over failed tender offerWeWork co-founder Adam Neumann filed a lawsuit against Japan's SoftBank Group Corp and its Vision Fund on Monday for terminating a $3 billion tender offer to the office-sharing startup's shareholders.
WeWork sues SoftBank for dropping $3 billion tender offerA WeWork board committee that negotiated a $3 billion tender offer with SoftBank Group sued the Japanese conglomerate on Tuesday for abandoning the deal, accusing it of succumbing to "buyer's remorse"..
Also reported by •Reuters
SoftBank Group withdraws $3 bil. tender offer plan for WeWorkSoftBank Group Corp. said Thursday it has withdrawn a plan to buy up to $3 billion worth of shares in WeWork as part of a bailout package to rebuild the struggling U.S. co-working space operator. The..
SoftBank terminates $3 billion WeWork tender offerSoftBank Group Corp said it has terminated a $3 billion tender offer for additional WeWork shares agreed last year with shareholders, including ousted co-founder Adam Neumann, drawing threats of legal..
SoftBank to abandon $3 billion deal for additional WeWork sharesJapan's SoftBank Group Corp will not complete a $3 billion tender offer for additional WeWork shares agreed last year with its shareholders, a special committee of the U.S.-based shared-office..
Also reported by •NYTimes.com
Would you go to the office for $100-a-day bonus? That's WeWork's offer to some employees during coronavirus pandemic.WeWork is offering a $100-a-day bonus to certain employees to keep its offices running in the U.S. and Canada during the coronavirus pandemic.
As Businesses Close, WeWork Tries to Lure Workers BackThe shared office space company is offering its workers $100-a-day bonuses to come to its locations amid the coronavirus crisis.
WeWork board's special committee prepares for fight against SoftBankThe special committee of WeWork's board is preparing for a fight against Japan's SoftBank Group Corp saying that SoftBank should complete its tender offer promised to the office sharing company's..
WeWork temporarily closes 100 buildings in China over coronavirus: CNBCOffice sharing startup WeWork has temporarily closed 100 buildings in China due to the coronavirus outbreak, Chairman Marcelo Claure said in a CNBC interview on Monday.
WeWork inks office space deal with SoftBank-backed Gympass: sourcesWeWork has signed a deal to provide space to 250 employees of gym membership app company Compass in New York, the latest example of the U.S. office-sharing start-up's majority owner, SoftBank Group..
WeWork debacle has unicorn investors seeking coverIn the months since office-sharing startup WeWork's botched public debut, mid- and late-stage investors in big start-ups have been pushing for more safeguards in case their firms fail to go public or..
SoftBank's $3 billion WeWork financing talks stall with Japan banks: sourcesSoftBank Group Corp's talks to secure $3 billion from Japan's three biggest banks have stalled as the lenders have hit internal lending limits to the firm, two people said, complicating a $9.5 billion..
SoftBank's Son sticks with gut-led investing in chat with Alibaba's MaWeeks after his billion-dollar bailout of WeWork, SoftBank Group Corp's founder and CEO Masayoshi Son reiterated his belief in an instinct-led investing style, in a discussion with Alibaba Group..
Also reported by •Reuters
SoftBank to go ahead with WeWork stock tender offer this weekSoftBank 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..
WeWork to lay off 2,400 employees in SoftBank revampWeWork 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..
Also reported by •WorldNews
WeWork lays off 2,400 workers to end cash drainStruggling office-sharing company calls job cuts necessary to create a "more efficient organization"
Exclusive: New York State Attorney General investigating WeWork - sourcesThe New York State Attorney General (NYAG) is investigating WeWork, according to two people familiar with the matter, adding to a series of problems facing the workspace provider.
WeWork faces U.S. SEC inquiry over possible rule violations: BloombergWeWork is facing scrutiny from the U.S. Securities and Exchange Commission (SEC) over whether it violated financial rules in the run-up to its canceled initial public offering, Bloomberg reported on..
WeWork begins search for a new CEO: sourcesSoftBank last month spent around $10 billion to take control of WeWork, rescuing the company from potential bankruptcy after it failed to complete an initial public offering, which also led to..
Also reported by •Reuters
WeWork in talks to hire T-Mobile's John Legere as CEO: WSJWeWork is in discussions with T-Mobile US Inc Chief Executive Officer John Legere to take over as head of the office-sharing start-up, the Wall Street Journal reported on Monday, citing people familiar..
WeWork co-founder sued over $1.7bn exit packageThe property company faces legal action over its co-founder's exit benefits.
Factbox: Failure to launch - The biggest IPO pull-outs of 2019Private companies seeking to launch on stock markets have abandoned a series of initial public offerings (IPO) this year after a string of high-profile startups — most notably WeWork — failed to..
WeWork, ex-CEO Neumann, Softbank sued over botched IPO, plummeting valueWeWork officials, including co-founder and former Chief Executive Adam Neumann, are being sued by minority shareholders to recoup losses as the shared workspace provider pulled its initial public..
Stung by WeWork, SoftBank boss Son charts more cautious IPO courseFresh from the WeWork debacle, SoftBank CEO Masayoshi Son says he now aims to be more cautious about the timings of IPOs, a shift that could squeeze the Japanese company's funding and increase its..
SoftBank's Son admits mistakes after Vision Fund's $8.9 billion lossSoftBank plunged to its first quarterly loss in 14 years on Wednesday, dragged down by an $8.9 billion hit at its giant Vision Fund, as CEO Masayoshi Son admitted poor investment judgment and turning a..
SoftBank founder sorry about WeWork investmentMasayoshi Son said he has regrets about his investment decision, but still believes WeWork has a future
SoftBank CEO Son says his judgment on WeWork was poor in many waysSoftBank Group Corp fell into the red in the second quarter for the first time in 14 years, with its gigantic Vision Fund suffering a 970 billion yen ($8.9 billion) loss on plunging valuations of..
SoftBank Group profit plunges owing to WeWork turmoilJapanese giant SoftBank Group suffered an operating loss of $6.4 billion in the second quarter, it said on Wednesday, as investments in start-ups such as WeWork and Uber took a massive hit. In the..
SoftBank's second-quarter whiplashed by $8.9 billion loss in Vision FundSoftBank Group Corp reported its first quarterly loss in 14 years on Wednesday, with its giant Vision Fund suffering a 970 billion yen ($8.9 billion) loss on falling valuations of top tech bets such as..
SoftBank Group plunges to $6.5 billion quarterly loss as tech bets stumbleSoftBank Group Corp plunged on Wednesday to a quarterly loss that was far larger than analysts' estimates, hit by the falling valuations of some of its biggest tech bets such as WeWork and Uber..
WeWork still on life support, rivals say it must cut costs fastSoftBank may be rescuing WeWork with a $9.5 billion cash injection but most rivals say they believe the office space sharing company is still in critical condition.
Factbox: How to fix WeWork: rivals say what they would doOffice sharing company WeWork is being rescued by its largest shareholder, SoftBank Group Corp , with a $9.5 billion injection of funds but it still faces a very difficult road to survival given its..
'We created a monster,' SoftBank CEO Masayoshi Son reportedly said of WeWorkMasayoshi Son, CEO of Japanese mega-investor SoftBank, told colleagues that "we created a monster" in WeWork, the Financial Times reported. SoftBank will on Wednesday impose stricter...
Co-working: When the home office is away from homeFreelancers, consultants and entrepreneurs no longer need to work out of their homes or garages. Instead, they can rent space at "co-working" firms, such as WeWork, that provide a place to plug in as..
WeWork, former CEO Adam Neumann accused of pregnancy discriminationThe former chief of staff to ousted WeWork CEO Adam Neumann has accused him and the company of discrimination, saying she was belittled for getting pregnant, forced out of her job in favor of a man..
Also reported by •CBS News
Tech investor Ben Horowitz on how healthy culture helps companies thriveTech giants like Facebook, Amazon, Uber, and WeWork have all faced criticism for their workplace culture. Venture capitalist Ben Horowitz argues that many companies miss the mark when developing their..