WeWork is cutting costs in a bid to restore investor confidence.
Drew Angerer/Getty ImagesAs it begins life under new leadership following the departure of embattled cofounder Adam Neumann, WeWork is looking to divest some assets and sell off parts of its business in a bid to better prepare for another attempt at an initial public offering.
To replace Neumann, WeWork announced two new CEOs, Artie Minson and Sebastian Gunningham, who have been quick to aggressively cut costs and raise cash. The move comes none too soon, as the company looks to restore investor confidence and save its IPO. The real estate and workspace firm will sell three companies—all of which were acquired within the last two years,on Wednesday. The three segments of its business being put up for sale are: office management company Managed by Q, networking service Meetup and marketing firm Conductor.
WeWork is also selling the private plane used by Adam Neumann, a luxurious Gulfstream G650 that the company bought for $60 million last year,
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
WeWork CEO steps down amid drug use allegations, failure to launch IPOLayoffs of 5,000 employees could follow, as well as the closing of ancillary businesses such as its private grade school and computer programming school.
Leer más »
WeWork chief Neumann's top lieutenants step up as successorsAs WeWork parent We Company's CEO Adam Neumann asked Artie Minson and Sebas...
Leer más »
WeWork CEO Adam Neumann steps downThe executive has been under pressure since WeWork released its pre-IPO S-1 filing amid concerns about its corporate governance and valuation.
Leer más »
WeWork Fiasco Has ‘Warren Buffett Of Japan’ On The RopesMasayoshi Son's investment in Alibaba made his reputation as a venture capital guru—the “Warren Buffett of Japan,” as he was dubbed. But that reputation is now taking a hit as WeWork essentially implodes before our eyes.
Leer más »
WeWork is reportedly unlikely to go public this year — and thousands of layoffs could be comingWeWork's new co-CEOs are reportedly considering 'a few thousand' layoffs in coming months to limit extraneous costs at the company.
Leer más »