WeWork to Reportedly Lay Off About a Third of Its Workforce

19 Novembre, 2019, 01:32 | Auteur: Auguste Feret
  • Theo Wargo  Getty Images

Through this step, the company is looking to gain financial stability as it continues to pull out all the stops to reverse company fortunes. Furthermore, as many as 1,000 employees working for building maintenance would be transferred over to an external contractor. Additionally, should the company attempt to go public again, the underwriters of the move could block Neumann from naming additional directors, according to the article.

WeWork previously received a Dollars 5.0 Billion bailout from its largest investor, SoftBank. Last week, WeWork told investors it lost $1.25 billion on the income of $934 million within the third quarter - losses had been up greater than 150% from the same interval a year in the past.

Tokyo-based investment firm SoftBank Group Corporation (OTC: SFTBY) acquired an 80% controlling stake in the startup in October. All these figures for losses were up by nearly 150 percent from the same period during the a year ago. Most of these new locations are in a loss and might be depleting the company's cash reserves, which stood at $2 billion by September end. Under its co-founder and former chief executive, Adam Neumann, the company piled billions of dollars into an erratic expansion that included adding huge office spaces in the world's most expensive cities, offering discounts to lure tenants and buying other businesses.

Chief justice orders delay in House fight for Trump records
But Trump asserted in his written statements to the special counsel that he didn't recall discussing WikiLeaks with Stone. In its Monday ruling, the Supreme Court ordered the House to respond to Trump's request for a stay by Thursday at 3 p.m.

Eric Reid: Kaepernick's 'goal was accomplished' after workout
He looks in great shape'". "The whole goal of this was to show that Colin is ready to play this game", Reid said. I get it, Kap keeping it real. "But they will play no role in you getting a job", he said. "He looks ripped.

Euro 2020 : La Suède et la Finlande y seront, l'Espagne cartonne
Un autre pays nordique, le Danemark, vainqueur surprise de l'Euro 1992, devra lui encore attendre avant de valider son billet. Les Finlandais ont frappé par Jasse Tuominen à la 21e mais ont dû patienter avant de se mettre au chaud.

A WeWork spokeswoman declined to comment, as did Ceresney, who's now a partner at Debevoise & Plimpton in NY. The startup offered discounts to attract potential renters and also acquired other businesses.

As part of his exit agreement with WeWork, Neumann can name a director and a board observer while the company remains private and two more board members if it goes public, according to Fast Company.

Conseillé:



Populaire

Hong Kong court rules face mask ban unconstitutional
Will the removal of the mask ban calm tensions? There is no suggestion that the ban drop will do anything to quell protests. The protests were triggered in June by a proposed law allowing for the extradition of criminal suspects to mainland China .

Nouvelles révélations sur l'implication de Trump dans l'affaire ukrainienne — Destitution
Contredit par d'autres témoins, il s'était ensuite "souvenu en avoir parlé, en aparté" avec un conseiller du président ukrainien. Après avoir mené une douzaine d'auditions à huis clos, les élus de la chambre basse ont entamé mercredi des auditions publiques.

A Dakar, Sénégal et France s'accordent pour lutter contre l'immigration irrégulière
"Une politique migratoire ce n'est pas qu'une addition de contraintes, c'est aussi l'expression de choix affirmés", a résumé M. La Mauritanie, elle, fait partie de la force conjointe du G5 Sahel , avec le Burkina Faso, le Mali, le Niger et le Tchad.

FedEx CEO Calls Out New York Times for ‘Distorted’ Reporting
Fred Smith's comments came yesterday, the day the piece ran on the front page of the country's premier newspaper. The paper had not officially responded to Smith's statement as of Monday morning.

Didier Guillaume favorable à une tolérance zéro — Alcool au volant
Au-delà de 0,8g/L, le contrevenant risque une suspension immédiate du permis, jusqu'à 4.500 euros et 2 ans de prison. Didier Guillaume a toutefois rappelé son opposition " au mois de janvier sans vin ", qu'il estime " aberrant ".

En plein concert, Jenifer arrête une bagarre entre deux spectateurs (vidéo)
Tu t'es trompé de spectacle", avait-elle rétorqué, avant de renchérir: "Et tu sais ce qu'il te dit mon short? "Bonne journée". La chanteuse s'est interrompu pour recadrer le ou les perturbateurs: " Attendez, on va se calmer deux secondes ".

Selena Gomez Reacts to Bella Hadid Deleting That Instagram Post
Bella had reacted by unfollowing Selena back in 2017 and was unfollowed back by her as well as The Weeknd a few months later. Interestingly, Bella is also friends with Hailey Baldwin , who is married to another one of Selena's exes, Justin Bieber .

New Jersey Devils Waive Cory Schneider
If the 33-year-old goalie clears waivers he will be assigned to Binghamton of the American Hockey League at noon ET on Tuesday. Blackwood, 22, has a 7-4-3 record this season with a.904 save percentage and a 2.79 goals-against average.

Harry Styles Shades Zayn Malik on SNL: Watch His Best Skits
In his opening monologue in this past weekend's episode of Saturday Night Live , Styles cared to mention his "brothers"... but he made a tiny error.

Kylie Jenner sells $600M majority stake in Kylie Cosmetics to Coty
She launched the brand in 2015 with "Kylie Lip Kit" and has since added eyeliners, eye shadows, blushes and other items. Forbes reported that she made $360 million in sales in 2018, making her the youngest self-made billionaire ever.