The SoftBank-installed chairman showed employees he does business differently than the company's founder, Adam Neumann.
WeWork chairman Marcelo Claure said in a Thursday night memo to staff obtained by Business Insider that 13 employees were fired for abusing its vendor selection and management processes. Claure is drawing a clear line between how WeWork operated in the past and its future under SoftBank, emphasizing that he's building"a strong culture of compliance." He also said layoffs will be finished in the next several weeks. For more stories about WeWork, click here.
WeWork chairman Marcelo Claure said in a Thursday night memo to staff obtained by Business Insider that 13 employees were fired for abusing its vendor selection and management processes. Claure is drawing a clear line between how WeWork operated in the past and its future under SoftBank, emphasizing that he's building"a strong culture of compliance." He also said layoffs will be finished in the next several weeks. For more stories about WeWork, click here.
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A Former WeWork Executive’s Complaint Alleges A Pattern Of Gender DiscriminationThe 24-page complaint is intended to become a class action lawsuit on behalf of other female employees who, the complaint alleges, also experienced gender or pregnancy discrimination, gender pay disparities and retaliation.
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SoftBank Founder Calls His Judgment ‘Really Bad’ After $4.7 Billion WeWork Hit“I regret it in many ways,” Chief Executive Masayoshi Son said of the investment, after SoftBank marked down the total value of WeWork’s equity to $7.8 billion.
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SoftBank's latest valuation of WeWork is lower than previously thought — at under $5 billionThe managers of SoftBank's $100 billion Vision Fund slashed their pre-bailout valuation of WeWork by 83% in the space of three months.
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WeWork accounted for 69% of coworking space leases in third quarter, even as crisis loomedFar from slowing down after losing over $900 million in the first half of the year, WeWork's ambitions were only growing in the third quarter.
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