WeWork co-CEOs Artie Minson and Sebastian Gunningham say the company will focus on its core business for now.
COWORKING. People walk out of the coworking space WeWork in the Williamsburg neighborhood in Brooklyn, New York City, on March 26, 2019. File photo by Spencer Platt/Getty Images/AFP, which replaced its controversial chief executive last week, announced Monday, September 30, that it will withdraw a plan to go public for now as it shifts into austerity mode.
The announcement comes 6 days after a shakeup atop the office sharing business that led to Minson's and Gunningham's appointments after controversial co-founderThe company, under pressure from Wall Street to rein in costs, plans to cut thousands of jobs and to rid itself of a corporate jet obtained during Neumann's tenure, according to a person familiar with the matter.
The charismatic Neumann was credited with growing the office sharing company, founded in 2010, into a real estate giant with operations in 111 cities in 29 countries. Neumann stepped down last week, saying"the scrutiny directed toward me has become a significant distraction, and I have decided that it is in the best interest of the company to step down as chief executive."Rebekah Neumann had been"chief brand and impact officer," as well as the founder and chief executive of WeGrow, an elementary school venture.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
House panel threatens to withdraw NGCP franchise for failure to implement IPOMembers of the House Committee on Energy threatened on Monday to withdraw the legislative franchise granted to the National Grid Corporation of the Philippines for its failure to implement the initial public offering (IPO) provided under the law.
Read more »
House panel threatens to withdraw NGCP franchise for failure to implement IPOMembers of the House Committee on Energy threatened on Monday to withdraw the legislative franchise granted to the National Grid Corporation of the Philippines for its failure to implement the initial public offering (IPO) provided under the law.
Read more »
Castro renews call for Lacson’s apology over ‘pork’ accusationsCapiz 2nd District Rep. Fredenil 'Fred' Castro will not withdraw his call for Senator Ping Lacson to apologize over his 'pork barrel' accusations, which the solon says have tainted some lawmakers' reputations.
Read more »
PNP chief denies police recall for PDEA head linked to 'ninja cops' exposéPNP Chief Oscar Albayalde quashes allegations that the security escorts of anti-narcotics head Aaron Aquino were withdrawn because of his revelations on 'ninja cops.'
Read more »
LISTEN: Nicki Minaj, PnB Rock, Murda Beatz collaborate in new single ‘Fendi’In “Fendi”, Minaj reiterates her love for the opulent fashion house, rapping, “It’s Fendi, it’s poppin,’ and we on and poppin’.” | AFP
Read more »
Massive iceberg breaks off Antarctica — but it’s normalA more than 600-square-mile iceberg broke off Antarctica in recent days, but the event is part of a normal cycle and is not related to climate change, scientists say.
Read more »