BENGALURU (Reuters) – WeWork’s India franchise said on Tuesday it laid off 100 employees, or 20% of its workforce, as the office-sharing startup joins a slew of firms that are cutting costs and revamping operations as a prolonged nationwide lockdown to curb th... More »
(Reuters) – A special committee of WeWork board members filed a motion in Delaware on Monday to prevent it from being disbanded, as it pursues legal action against majority owner SoftBank Group Corp (9984.T) over an abandoned $3 billion tender offer for the of... More »
(Reuters) – Softbank (9984.T)-backed office sharing firm WeWork named real estate industry veteran Sandeep Mathrani as its new chief executive on Saturday. Mathrani will join the company as the CEO from Feb. 18, 2020 and will report to Marcelo Claure, who will... More »
NEW YORK (Reuters) – WeWork has signed a deal to provide space to 250 employees of gym membership app company Gympass in New York, the latest example of the U.S. office-sharing start-up’s majority owner, SoftBank Group Corp, using its connections to buoy its b... More »
TOKYO (Reuters) – SoftBank Group Corp’s talks to secure $3 billion from Japan’s three biggest banks have stalled as the lenders have hit internal lending limits to the firm, two people said, complicating a $9.5 billion rescue package for WeWork. The Japanese t... More »
NEW YORK/BANGALORE (Reuters) – SoftBank Group Corp (9984.T) will this week launch a previously agreed tender offer for as much as $3 billion of WeWork shares, including up to $970 million owned by the office sharing company’s cofounder Adam Neumann, two people... More »
(Reuters) – Shared office space company WeWork Companies Inc is leaning toward a near $5 billion financing package led by JPMorgan Chase & Co (JPM.N), instead of selling a controlling stake to Japan’s SoftBank Group Corp (9984.T), Bloomberg reported bloom.bg/2... More »
NEW YORK (Reuters) – Cash-strapped WeWork, the office-sharing company that is trying to negotiate a financial lifeline, has a new problem that may prove costly. It has closed about 2,300 phone booths at some of its 223 sites in the United States and Canada aft... More »
NEW YORK (Reuters) – WeWork has opened almost as many new locations in the last 3-1/2 months as it did in the whole first half of this year, likely accelerating the speed with which the office-sharing company is burning through cash as increasingly hard-nosed ... More »
(Reuters) – Office-sharing startup WeWork is pressing ahead with plans to go public despite lukewarm interest in its shares, three sources said, leaving its largest investor, SoftBank Group (9984.T), with a stark choice: take a haircut or pony up even more cas... More »
(Reuters) – Shared office space manager WeWork Cos is looking to raise $3 billion to $4 billion in debt before it goes public, a person familiar with the matter said on Sunday, a move aimed to fuel investor confidence in the company. The potential debt offerin... More »
A man talks on the phone as he stand in front of an advertising poster of the SoftBank telecommunications company in Tokyo October 16, 2015. REUTERS/Thomas Peter Japan’s SoftBank Group Corp (9984.T) is close to making an investment in U.S. office-sharing start... More »
