Tag: WeWork Companies Inc

‘We Trusted You’: WeWork’s Chair on Adam Neumann and the Future

Marcelo Claure flopped into a chair late this week at WeWork’s headquarters in New York, looking exhausted and exhilarated, his 6-foot-6 frame splayed across the glass meeting room. Mr. Claure, the newly installed executive chairman of the embattled company and a top lieutenant of SoftBank’s Masayoshi Son (who plowed over $10 billion into WeWork), has […]

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They Don’t Call Them Hot Desks for Nothing

This article is part of our November Design special section, which focuses on style, function and form in the workplace. The biggest news in the world of co-working has been the turmoil at WeWork. But a quieter development has been happening behind the scenes for some time, and it has to do with design. While […]

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WeWork Lost $1.25 Billion in Third Quarter

The rapid expansion of WeWork’s office-space empire caused the company’s losses to balloon in the third quarter, according to a company presentation. WeWork lost $1.25 billion in the three months that ended in September, up from $497 million in the same period a year earlier, according to the document, obtained by The New York Times. […]

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WeWork in Talks With John Legere of T-Mobile for C.E.O. Job

WeWork, seeking a new chief executive to lead the company’s overhaul, is in talks with John Legere of T-Mobile, according to two people briefed on the discussions. Mr. Legere, who has been credited with reviving T-Mobile and has been there for seven years, is one of several candidates the company is considering, according to the […]

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Awaiting Layoffs, WeWork Employees Seek a ‘Seat at the Table’

In the latest sign of worker activism in tech companies and start-ups, a group of employees at the struggling office-space giant WeWork are calling on management to treat workers humanely as the company prepares to lay off thousands, and to give workers a say in corporate decisions and policies. Alluding to the controversies that have […]

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SoftBank Takes a Financial Hit as Its WeWork Bet Sours

TOKYO — SoftBank Group of Japan on Wednesday said it took a multibillion-dollar write-down related to its stakes in WeWork and Uber, two flashy technology companies that have become the poster children for the excesses of start-up culture. SoftBank Group is the world’s largest tech investor, and it has used its $100 billion Vision Fund […]

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Adam Neumann and the Art of Failing Up

Adam Neumann stood on the 57th floor of the Woolworth Building, the neo-Gothic skyscraper that was once the tallest in the world. It was late on a Friday night in 2013, and the WeWork founder and chief executive had just made a move to add the top 30 floors to his rapidly expanding real estate […]

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WeWork’s Ousted C.E.O. Adam Neumann Is Accused of Pregnancy Discrimination

When the chief of staff to the WeWork co-founder Adam Neumann became pregnant in March 2016, she was reluctant to immediately share the news with her boss. But ultimately, the employee, Medina Bardhi, felt she had no choice. She had to explain that she could no longer accompany Mr. Neumann on business trips “due to […]

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‘It’s Definitely Pretty Empty’: Why Saving WeWork Will Be Hard

Even as WeWork was scrambling to secure a financial bailout last week, Sebastian Gunningham, one of its co-chief executives, made time to oversee the opening of Dock 72, an immaculate shiplike building on the Brooklyn waterfront that houses one of the company’s newest shared working spaces. As Mr. Gunningham posed for a ribbon cutting with […]

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WeWork Considers Rescue Plans From SoftBank and JPMorgan

The board of WeWork, the cash-starved purveyor of shared office space, is weighing competing financial rescue packages from SoftBank and a financial consortium led by JPMorgan Chase, according to two people with knowledge of the matter. SoftBank, a Japanese technology giant that is already the largest outside shareholder in WeWork, is offering to take a […]

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WeWork Planned a Residential Utopia. It Hasn’t Turned Out That Way.

After first pledging to upend the way people worked, WeWork vowed to change how they lived: WeLive, a sleek dormitory for working professionals with free beer, arcade games in the laundry room and catered Sunday dinners, would spread around the world. It has not quite turned out that way. WeLive has not expanded beyond its […]

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The Twilight of the Tech Idols

The banking industry, which has consistently been one of the wealthiest industries for the last few centuries, has very few leaders one would call “heroes” or “idols.” Most of them are part of a group of men who fought and finessed their way to the top by being good at corporate politics and managing other […]

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WeWork Formally Withdraws Its I.P.O. After Investors Balked

WeWork shelved its plans for an initial public offering on Monday, days after its chief executive resigned under pressure. It was the latest sign of trouble at the fast-growing company, which rents out shared office space, and was until recently considered one of the world’s most valuable start-ups. But investors balked at buying shares in […]

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The Week the C.E.O.s Got Smacked

One wanted to “elevate the world’s consciousness.” Another aspired to “make a bigger difference around the world.” A third, speaking of climate change, said, “We owe it to our children to find the right answers.” This soaring rhetoric did not emanate from motivational speakers or religious leaders. It was uttered by wealthy chief executives hoping […]

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Wall Street Skeptics Poke at Start-Up Bubble

This was supposed to be the year when America’s biggest start-ups would finally make their triumphant debut on the stock market. Billionaire Silicon Valley investors, sneaker-clad founders and button-down bankers all expected enormous stock sales to turn companies like Uber, Lyft and WeWork into a new generation of corporate giants. It hasn’t quite turned out […]

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SoftBank Bet Big on Disruptive Companies. Many Have Not Paid Off.

Anyone who has taken an Uber, sent a Slack message or enjoyed a free beer at a WeWork owes a little something to Masayoshi Son. Through his Japanese conglomerate SoftBank and a $100 billion investment fund, Mr. Son plowed huge sums into these and other companies that aim to change how people work, travel and […]

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Open Offices Are a Capitalist Dead End

What was We thinking? That’s the only question worth asking now about the clowncar start-up known as The We Company, the money-burning, co-working behemoth whose best-known brand is WeWork. What’s a WeWork? What WeWork works on is work. The We Company takes out long-term leases on in-demand office buildings in more than 100 cities across […]

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Behind WeWork Leader’s Rise and Fall: A Wall St. Bank Playing Many Angles

By Andrew Ross Sorkin The ouster of WeWork’s co-founder and its botched initial public offering are a remarkable collapse of what was considered, up until weeks ago, one of the most valuable start-ups in the world. This is not simply the failure of a young and capricious founder. Adam Neumann, who helped start the company […]

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