It's sad, and I really think that this will be the final nail. Good luck all.
Today was a real sh– day at WeWork where we had to say goodbye to many friends who are excellent at their craft (but their projects no longer a priority). East or west coast: holler if you need great PMs, engineers, or designers.
Held a meeting to talk bout SoftBank's takeover. Claure answered questions around employees' options, Neumann's future at the company. Claure has no #s on jobs but is committed to "fast" and "transparent" cuts. We want this to be an... — read more
WeWork Cuts 350 employees - corporate division cuts will be within the software engineering, product management and data science teams. another 150 roles may be cut as WeWork ditches assets (Managed by Q, Teem, SpaceIQ, Conductor and... — read more
IWG Plc, Convene, Industrious and Knotel are pitching themselves as more stable providers for landlords - already happening in LA, NYC, SF, etc. I just do not see W surviving this year
Here is the current media round up - it seems that things are about to unravel very quickly - We's bonds took a major hit today - it sure sees like the end to me... Sit tight peeps... WeWork is planning to lay off thousands of... — read more
Trouble is brewing Adam's holy inner circle negotiating exit packages. Everyone works from home nowadays. All hands confirmation - THERE WILL BE LAYOFFS
Here is the coverage, I'd proablly say this is fairly certain to happen in RTP (layoffs)... https://www.wraltechwire.com/2019/09/27/report-wework-which-has-big-presence-in-rtp-considers-layoffs-asset-sales/ WRAL is covering, via Bloomberg:... — read more
That's the news today - aside from Adam Newman stepping down from the CEO role, there are rumors that there will be an effort to reign in costs - so they will go after resources... The word on the street is that about 1/3 of the entire workforce will... — read more
If you can get around the firewall. https://www.wsj.com/articles/wework-was-wrestling-with-sec-over-key-financial-metric-just-before-it-sc-apped-ipo-11573381800
Full of narcissistic millennials that are all on Greenwich Me Time!
Last year, the tech industry saw some of its shiniest “unicorns” falter and even implode. For example, WeWork (which critics argue is actually a real-estate company that pretends it’s a hot tech startup, but bear with us) planned to cut thousands of... — read more
Anybody get any updates as of yet about severance?
https://www.businesswire.com/news/home/20220311005124/en/WeWork-Reports-Fourth-Quarter-and-Fiscal-Year-2021-Financial-Results The results are not bad. I hope that means that a slightly better period is ahead.
The WARN Act requires an employer to notify employees, in writing, 60 days before a layoff, and pay the employee for those 60 days, in addition to any severance the employee may be entitled to. Unfortunately, some employers attempt to circumvent the... — read more
Revenue is nowhere near where it should be, which means that somebody will have to pay for that. Considering that we have incompetent management that would never admit its own mistakes and accept responsibility, we are the ones who'll end up paying... — read more