WeWork to lay off a 'QUARTER of its 12,500 workforce' after company ousts [tr]

UK Daily Mail ^ | October 4, 2019 | Keith Griffith

[C19fan]

Coworking startup WeWork plans to lay off up to a quarter of its workforce following the ouster of CEO Adam Neumann, according to a new report.

WeWork plans layoffs 'in the thousands', though less than the 3,000 to 5,000 number that had been previously reported, a person familiar with the matter told Business Insider.

The company has 12,500 employees, so a cut of 1,000 to 3,000 people would be about 10% to 25% of its staff.

Following backlash from investors over a dubious business model, Neumann stepped down last month, and new CEOs Artie Minson and Sebastian Gunningham put plans for an initial public offering on hold.

[C19fan]

But but..I thought WeWorks was going to "disrupt" the office space market. WeFraud.

[C19fan]

I wonder how much the ousted CEO manage to steal.

[DannyTN]

Suggested new names:

• WeDontWork
• WeWorkNoMore
• We'reInTheUnemploymentLineNow
• WeWelfare
• ISawYouStandingInTheWelfareLine
• WeUnemployed
• WeBusted
• WeBroke

[thesharkboy]

How about “Won’tWork?”

[SaveFerris]

I was thinking “WeLayOff”.

[RetiredTexasVet]

Gigantic scam fell through .... lot of sad IPO banker fraudsters out there now.

[R_Kangel]

WeGone

[SaveFerris]

[ following the ouster of CEO Adam Neumann, ]

[Larry Lucido]

[Larry Lucido]

[FewsOrange]

How exactly does renting office space to businesses get to be some disruptive, dot-com like media darling business?

It might well be a solid business but I can’t see why it would deserve a great stock market valuation.

[SaveFerris]

Heh, that was me trying to fix a 45-year-old software mess a few years ago.

I might as well have been Kramer! I/T professionals would know it as a “silo”. A completely undocumented silo. With no backups.

Have you got any Ritz crackers? It’s lunch time.

[dp0622]

ROFLMAO!!

ALL of you are what’s WRONG with FR!!

This is a SERIOUS political board and if you cant keep a modicum of decorocum hit the road!!!

Thanks for the laughs :)

#WE####ED

[Fido969]

It’s not just “office space,” it’s “trendy office space.”

[eyeamok]

They have 2 full floors at 555 w 5th in downtown Los Angeles, at $40 sq ft, each floor is 60,000 sg ft, That’s a whole lot of part time office space to rent out

[SaveFerris]

[This is a SERIOUS political board and if you cant keep a modicum of decorum]

I certainly try not to.

[dp0622]

lol

you know i spent decorum wrong on purpose. :)

modicum/decoricum...it was bad..forget it :)

[DoughtyOne]

Well, it sounds like their business model was something akin to getting people moved out of their corporate jobs and into a situation where they did the same work for dirt wages.

That was always a favorite of mine. /s

[SaveFerris]

Oh, OK, LOL

[dp0622]

After ALL this time!!

I spend more time on here than the local bar and you thought i spelled that wrong for real!??!!?

There goes your Christmas gift!!

It was a fruitcake. :)