RESEARCH TRIANGLE PARK – WeWork, whose CEO and founder Adam Neumann stepped down on Tuesday, is now considering layoffs and selling assets – including a $60 million jet the company had purchased for Neumann’s travels.
So reports Bloomberg news service. The Wall Street Journal also reported changes are underway at the company that only recently seemed destined to execute a multi-billion-dollar stock offering.
WeWork has a growing presence in the Triangle and Charlotte, offering coworking space and related services.
Named co-CEOs, Chief Financial Officer Artie Minson and Vice Chair Sebastian Gunningham told employees via email that they planned to “strengthen our core business,” Bllomberg reported.
WeWork declined comment. Bloomberg did not name its sourcing.
CEO at WeWorks, which has fast-growing presence in Triangle, steps aside
“The moves are part of a belt-tightening that WeWork needs: The company lost US$900 million in the first half of the year,” Bloomberg reported.
“WeWork is also planning to sell three businesses acquired in recent years: event organizing platform Meetup, office management startup Managed by Q and marketing company Conductor,” Bloomberg added, citing its source.
“WeWork may also turn to job cuts, which one person familiar with the matter said could number in the thousands for a staff of more than 12,000.”
