WeWork announced on Tuesday that its Chief Executive Officer and Director, David Tolley, will step down after what they defined as a "successful conclusion" of its global restructuring.
According to the announcement, the transition will officially occur once the company emerges from Chapter...
Former CEO and co-founder of WeWork Inc., Adam Neumann, allegedly made an offer to buy the bankrupt provider of coworking spaces for more than $500 million, the Wall Street Journal reported, citing sources familiar with the matter.
"As we’ve said previously, WeWork is an extraordinary company...
WeWork Inc. filed for Chapter 11 bankruptcy protection in a New Jersey federal court on Monday. The filing is specifically for WeWork's locations in the United States and Canada, with reported liabilities ranging from $10 billion to $50 billion, the company announced.
WeWork's CEO, David Tolley,...
Shares of co-working space provider WeWork Inc. fell to an all-time low Wednesday.
The move comes as investors learned that the firm will file for Chapter 11 bankruptcy as soon as next week. At this moment, the company is in a 30-day grace period after defaulting on interest payments to its...
The shares of co-working space provider WeWork Inc. slid 30% on Tuesday during after-hours trading following a Wall Street Journal report.
Sources with knowledge of the matter told WSJ that the company is expected to file for bankruptcy as soon as next week. WeWork failed to pay interest to its...
Co-working space provider WeWork Inc. revealed on Monday in a statement that David Tolley has officially stepped up as the new company's Chief Executive Officer after being part of the board since February and performing as interim CEO since May in replacement of Sandeep Mathrani.
"Over...
Co-working space provider WeWork Inc. announced on Wednesday that it will renegotiate nearly all of its leases as its current contracts "still remain too high and are dramatically out of step with current market conditions." The company said it also expects to "exit unfit and underperforming locations...
Filing for Chapter 11 bankruptcy is one of the solutions WeWork Inc.'s creditors are discussing, The Wall Street Journal reported on Thursday, citing unnamed sources familiar with the situation.
Some investment firms that lent funds to the company, including BlackRock Inc., King Street Capital...
WeWork Inc. announced a 1-for-40 reverse stock split, explaining that every 40 shares of the company's Class A and Class C common stock will be combined into one share of the corresponding class.
Its board of directors gave the green light for the move that will take effect on September 1,...
WeWork Inc. announced on Thursday it will close forty "underperforming" locations across the United States in order to cut the costs that would bring about $140 million to annual adjusted core earnings (EBITDA).
The closure of nearly 41,000 workstations across the United States is likely to lower the...
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