WeWork Key Executives
This section highlights WeWork's key executives, including their titles and compensation details.
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WeWork Earnings
This section highlights WeWork's earnings, including key dates, EPS, earnings reports, and earnings call transcripts.
Next Earnings Date
Last Earnings Results
Earnings Call Transcripts
| Transcript | Quarter | Year | Date | Estimated EPS | Actual EPS |
|---|---|---|---|---|---|
| Read Transcript | Q2 | 2023 | 2023-08-12 | N/A | N/A |
| Read Transcript | Q1 | 2023 | 2023-05-09 | $-16.00 | $-13.60 |
WeWork Inc. provides flexible workspace solutions to individuals and organizations worldwide. The company offers workstation, private office, and customized floor solutions; and various amenities and services, such as private phone booths, internet, high-speed business printers and copiers, mail and package handling, front desk services, off-peak building access, common areas, and daily enhanced cleaning solutions. It also offers various value-add services; business and technical service solutions, including professional employer organization and payroll services, remote workforce solutions, human resources benefits, dedicated bandwidth, and IT equipment co-location solutions. In addition, the company offers workspace management solutions, which enable landlords and operators to power flexible spaces and provide direct access to an established customer base. As of December 31, 2021, its real estate portfolio includes 756 locations. WeWork Inc. was founded in 2010 and is headquartered in New York, New York.
$0.84
Stock Price
$44.08M
Market Cap
4.30K
Employees
New York, NY
Location
Financial Statements
Access annual & quarterly financial statements for WeWork, including income statements, balance sheets, and cash flow statements..
Annual Income Statement
| Breakdown | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 |
|---|---|---|---|---|
| Revenue | $3.25B | $2.57B | $3.42B | $3.46B |
| Cost of Revenue | $2.91B | $3.08B | $3.54B | $2.76B |
| Gross Profit | $331.00M | $-515.00M | $-127.00M | $700.27M |
| Gross Profit Ratio | 10.20% | -20.00% | -3.72% | 20.25% |
| Research and Development Expenses | $- | $- | $- | $- |
| General and Administrative Expenses | $698.00M | $968.00M | $1.53B | $2.66B |
| Selling and Marketing Expenses | $37.00M | $43.00M | $72.20M | $137.60M |
| Selling General and Administrative Expenses | $735.00M | $1.01B | $1.60B | $2.79B |
| Other Expenses | $- | $- | $- | $- |
| Operating Expenses | $1.50B | $1.88B | $2.66B | $3.96B |
| Cost and Expenses | $4.41B | $4.96B | $6.20B | $6.71B |
| Interest Income | $9.00M | $19.00M | $17.00M | $53.24M |
| Interest Expense | $257.00M | $245.00M | $159.00M | $99.59M |
| Depreciation and Amortization | $641.00M | $709.00M | $779.00M | $589.91M |
| EBITDA | $-792.00M | $-1.89B | $-2.21B | $-2.64B |
| EBITDA Ratio | -24.41% | -73.70% | -64.55% | -76.46% |
| Operating Income | $-1.59B | $-3.70B | $-4.35B | $-3.92B |
| Operating Income Ratio | -49.03% | -143.89% | -127.25% | -113.33% |
| Total Other Income Expenses Net | $-698.00M | $-2.23B | $-1.03B | $-486.24M |
| Income Before Tax | $-2.29B | $-4.63B | $-3.81B | $-3.73B |
| Income Before Tax Ratio | -70.54% | -180.12% | -111.65% | -107.83% |
| Income Tax Expense | $6.00M | $3.00M | $20.00M | $45.64M |
| Net Income | $-2.03B | $-4.44B | $-3.13B | $-3.26B |
| Net Income Ratio | -62.68% | -172.72% | -91.60% | -94.40% |
| EPS | $-106.79 | $-673.63 | $-179.70 | $-187.50 |
| EPS Diluted | $-106.79 | $-673.63 | $-179.70 | $-187.50 |
| Weighted Average Shares Outstanding | 19.05M | 6.59M | 17.41M | 17.41M |
| Weighted Average Shares Outstanding Diluted | 19.05M | 6.59M | 17.41M | 17.41M |
| SEC Filing | Source | Source | Source | Source |
| Breakdown | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 |
|---|---|---|---|---|---|---|
| Revenue | $794.00M | $844.00M | $849.00M | $848.00M | $817.00M | $815.00M |
| Cost of Revenue | $156.00M | $725.00M | $724.00M | $712.00M | $730.00M | $149.00M |
| Gross Profit | $638.00M | $119.00M | $125.00M | $136.00M | $87.00M | $666.00M |
| Gross Profit Ratio | 80.40% | 14.10% | 14.70% | 16.00% | 10.60% | 81.70% |
| Research and Development Expenses | $- | $- | $- | $- | $- | $- |
| General and Administrative Expenses | $- | $- | $- | $120.00M | $- | $- |
| Selling and Marketing Expenses | $- | $- | $- | $37.00M | $- | $- |
| Selling General and Administrative Expenses | $703.00M | $150.00M | $155.00M | $157.00M | $181.00M | $814.00M |
| Other Expenses | $- | $41.00M | $- | $- | $- | $- |
| Operating Expenses | $1.36B | $314.00M | $310.00M | $326.00M | $360.00M | $1.14B |
| Cost and Expenses | $1.52B | $1.04B | $1.03B | $1.04B | $1.09B | $1.29B |
| Interest Income | $- | $- | $4.00M | $3.00M | $3.00M | $159.00M |
| Interest Expense | $- | $89.00M | $87.00M | $68.00M | $66.00M | $- |
| Depreciation and Amortization | $139.00M | $156.00M | $148.00M | $156.00M | $156.00M | $158.00M |
| EBITDA | $-65.00M | $-11.00M | $-79.00M | $-95.00M | $-174.00M | $-148.00M |
| EBITDA Ratio | -8.19% | -1.30% | -9.31% | -11.20% | -21.30% | -18.16% |
| Operating Income | $-204.00M | $-351.00M | $-204.00M | $-581.00M | $-336.00M | $-306.00M |
| Operating Income Ratio | -25.69% | -41.59% | -24.03% | -68.51% | -41.13% | -37.55% |
| Total Other Income Expenses Net | $-612.00M | $-41.00M | $-98.00M | $-334.00M | $-290.00M | $-326.00M |
| Income Before Tax | $-816.00M | $-392.00M | $-302.00M | $-526.00M | $-626.00M | $-632.00M |
| Income Before Tax Ratio | -102.77% | -46.45% | -35.57% | -62.03% | -76.62% | -77.55% |
| Income Tax Expense | $4.00M | $5.00M | $-3.00M | $1.00M | $3.00M | $3.00M |
| Net Income | $-788.00M | $-349.00M | $-264.00M | $-454.00M | $-568.00M | $-577.00M |
| Net Income Ratio | -99.24% | -41.35% | -31.10% | -53.54% | -69.52% | -70.80% |
| EPS | $-14.57 | $-8.58 | $-13.78 | $-23.78 | $-29.80 | $-30.40 |
| EPS Diluted | $-14.57 | $-8.58 | $-13.78 | $-23.78 | $-29.80 | $-30.31 |
| Weighted Average Shares Outstanding | 54.07M | 40.66M | 19.16M | 19.09M | 19.06M | 18.98M |
| Weighted Average Shares Outstanding Diluted | 54.07M | 40.66M | 19.16M | 19.09M | 19.06M | 19.04M |
| SEC Filing | Source | Source | Source | Source | Source | Source |
Annual Balance Sheet
| Breakdown | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 |
|---|---|---|---|---|
| Cash and Cash Equivalents | $287.00M | $924.00M | $800.53M | $1.34B |
| Short Term Investments | $- | $- | $- | $- |
| Cash and Short Term Investments | $287.00M | $924.00M | $800.53M | $1.34B |
| Net Receivables | $173.00M | $285.00M | $336.54M | $404.54M |
| Inventory | $203.00M | $221.00M | $188.42M | $335.88M |
| Other Current Assets | $26.00M | $42.00M | $3.73M | $47.72M |
| Total Current Assets | $689.00M | $1.47B | $1.33B | $2.13B |
| Property Plant Equipment Net | $15.63B | $18.43B | $21.97B | $25.90B |
| Goodwill | $685.00M | $677.00M | $679.35M | $698.42M |
| Intangible Assets | $52.00M | $57.00M | $49.90M | $79.86M |
| Goodwill and Intangible Assets | $737.00M | $734.00M | $729.25M | $778.28M |
| Long Term Investments | $63.00M | $200.00M | $214.94M | $203.72M |
| Tax Assets | $498.00M | $1.27M | $1.38M | $1.15M |
| Other Non-Current Assets | $242.00M | $922.73M | $1.11B | $2.14B |
| Total Non-Current Assets | $17.17B | $20.28B | $24.03B | $29.02B |
| Other Assets | $- | $- | $- | $- |
| Total Assets | $17.86B | $21.76B | $25.36B | $31.15B |
| Account Payables | $526.00M | $621.00M | $723.41M | $1.37B |
| Short Term Debt | $958.00M | $922.00M | $860.64M | $688.49M |
| Tax Payables | $- | $- | $- | $- |
| Deferred Revenue | $151.00M | $120.00M | $176.00M | $180.39M |
| Other Current Liabilities | $595.00M | $470.00M | $429.21M | $846.97M |
| Total Current Liabilities | $2.23B | $2.13B | $2.19B | $3.09B |
| Long Term Debt | $18.81B | $20.79B | $22.15B | $24.79B |
| Deferred Revenue Non-Current | $- | $- | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $- | $- | $- |
| Other Non-Current Liabilities | $282.00M | $244.00M | $8.31B | $6.61B |
| Total Non-Current Liabilities | $19.09B | $21.04B | $30.46B | $31.40B |
| Other Liabilities | $- | $- | $- | $- |
| Total Liabilities | $21.32B | $23.17B | $32.65B | $34.49B |
| Preferred Stock | $- | $- | $- | $- |
| Common Stock | $- | $- | $16.00K | $198.00K |
| Retained Earnings | $-16.18B | $-14.14B | $-9.70B | $-6.57B |
| Accumulated Other Comprehensive Income Loss | $149.00M | $-31.00M | $-158.81M | $-2.61M |
| Other Total Stockholders Equity | $12.36B | $12.29B | $2.19B | $1.88B |
| Total Stockholders Equity | $-3.67B | $-1.88B | $-7.67B | $-4.70B |
| Total Equity | $-3.46B | $-1.41B | $-7.29B | $-3.34B |
| Total Liabilities and Stockholders Equity | $17.86B | $21.76B | $25.36B | $31.15B |
| Minority Interest | $215.00M | $469.00M | $382.10M | $1.35B |
| Total Liabilities and Total Equity | $17.86B | $21.76B | $25.36B | $31.15B |
| Total Investments | $63.00M | $200.00M | $214.94M | $203.72M |
| Total Debt | $19.76B | $21.71B | $23.01B | $25.48B |
| Net Debt | $19.48B | $20.79B | $22.21B | $24.14B |
Balance Sheet Charts
| Breakdown | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $462.00M | $205.00M | $224.00M | $287.00M | $460.00M | $625.00M |
| Short Term Investments | $- | $- | $- | $- | $- | $- |
| Cash and Short Term Investments | $462.00M | $205.00M | $224.00M | $287.00M | $460.00M | $625.00M |
| Net Receivables | $136.00M | $163.00M | $159.00M | $173.00M | $174.00M | $139.00M |
| Inventory | $- | $349.00M | $412.00M | $203.00M | $205.00M | $- |
| Other Current Assets | $361.00M | $27.00M | $43.00M | $26.00M | $27.00M | $447.00M |
| Total Current Assets | $959.00M | $744.00M | $838.00M | $689.00M | $866.00M | $1.21B |
| Property Plant Equipment Net | $11.85B | $13.13B | $14.59B | $15.63B | $15.91B | $16.84B |
| Goodwill | $- | $- | $- | $685.00M | $682.00M | $685.00M |
| Intangible Assets | $728.00M | $735.00M | $736.00M | $52.00M | $83.00M | $76.00M |
| Goodwill and Intangible Assets | $728.00M | $735.00M | $736.00M | $737.00M | $765.00M | $761.00M |
| Long Term Investments | $42.00M | $49.00M | $60.00M | $63.00M | $62.00M | $84.00M |
| Tax Assets | $- | $171.00M | $482.00M | $498.00M | $534.00M | $- |
| Other Non-Current Assets | $303.00M | $229.00M | $241.00M | $242.00M | $200.00M | $745.00M |
| Total Non-Current Assets | $12.92B | $14.32B | $16.11B | $17.17B | $17.47B | $18.43B |
| Other Assets | $- | $- | $- | $- | $- | $- |
| Total Assets | $13.88B | $15.06B | $16.95B | $17.86B | $18.34B | $19.64B |
| Account Payables | $429.00M | $455.00M | $495.00M | $526.00M | $496.00M | $484.00M |
| Short Term Debt | $3.23B | $907.00M | $940.00M | $958.00M | $911.00M | $21.00M |
| Tax Payables | $- | $- | $- | $- | $- | $- |
| Deferred Revenue | $- | $112.00M | $127.00M | $151.00M | $138.00M | $- |
| Other Current Liabilities | $1.67B | $715.00M | $713.00M | $595.00M | $549.00M | $1.59B |
| Total Current Liabilities | $5.34B | $2.19B | $2.27B | $2.23B | $2.09B | $2.10B |
| Long Term Debt | $12.62B | $16.19B | $18.14B | $18.81B | $18.77B | $19.62B |
| Deferred Revenue Non-Current | $- | $- | $- | $- | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $- | $- | $- | $- | $- |
| Other Non-Current Liabilities | $232.00M | $277.00M | $320.00M | $282.00M | $226.00M | $235.00M |
| Total Non-Current Liabilities | $12.86B | $16.47B | $18.46B | $19.09B | $19.00B | $19.86B |
| Other Liabilities | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $18.19B | $18.66B | $20.73B | $21.32B | $21.09B | $21.95B |
| Preferred Stock | $- | $- | $- | $- | $- | $- |
| Common Stock | $- | $- | $- | $- | $- | $- |
| Retained Earnings | $-17.58B | $-16.79B | $-16.44B | $-16.18B | $-15.72B | $-15.15B |
| Accumulated Other Comprehensive Income Loss | $189.00M | $97.00M | $117.00M | $149.00M | $343.00M | $165.00M |
| Other Total Stockholders Equity | $12.98B | $12.97B | $12.36B | $12.36B | $12.35B | $12.33B |
| Total Stockholders Equity | $-4.41B | $-3.72B | $-3.96B | $-3.67B | $-3.03B | $-2.66B |
| Total Equity | $-4.32B | $-3.59B | $-3.79B | $-3.46B | $-2.75B | $-2.32B |
| Total Liabilities and Stockholders Equity | $13.88B | $15.06B | $16.95B | $17.86B | $18.34B | $19.64B |
| Minority Interest | $93.00M | $125.00M | $177.00M | $215.00M | $277.00M | $342.00M |
| Total Liabilities and Total Equity | $13.88B | $15.06B | $16.95B | $17.86B | $18.34B | $19.64B |
| Total Investments | $42.00M | $49.00M | $60.00M | $63.00M | $62.00M | $84.00M |
| Total Debt | $15.86B | $17.10B | $19.08B | $19.76B | $19.68B | $19.64B |
| Net Debt | $15.40B | $16.89B | $18.86B | $19.48B | $19.23B | $19.02B |
Annual Cash Flow
| Breakdown | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 |
|---|---|---|---|---|
| Net Income | $-2.29B | $-4.63B | $-3.83B | $-3.77B |
| Depreciation and Amortization | $641.00M | $709.00M | $779.00M | $589.91M |
| Deferred Income Tax | $- | $- | $- | $- |
| Stock Based Compensation | $49.00M | $214.00M | $63.00M | $358.97M |
| Change in Working Capital | $-254.00M | $-222.00M | $1.38B | $2.04B |
| Accounts Receivables | $4.00M | $24.00M | $-33.00M | $-175.26M |
| Inventory | $- | $- | $- | $- |
| Accounts Payables | $- | $- | $- | $- |
| Other Working Capital | $36.00M | $-53.00M | $33.00M | $86.71M |
| Other Non Cash Items | $316.00M | $1.01B | $-450.00M | $159.62M |
| Net Cash Provided by Operating Activities | $-733.00M | $-1.91B | $-857.00M | $-448.24M |
| Investments in Property Plant and Equipment | $-338.00M | $-337.00M | $-1.46B | $-3.53B |
| Acquisitions Net | $- | $- | $-54.48M | $-1.04B |
| Purchases of Investments | $- | $-26.70M | $-99.15M | $-80.67M |
| Sales Maturities of Investments | $- | $- | $- | $- |
| Other Investing Activities | $44.00M | $-10.00M | $1.02B | $-129.05M |
| Net Cash Used for Investing Activities | $-294.00M | $-347.00M | $-444.00M | $-4.78B |
| Debt Repayment | $- | $- | $- | $- |
| Common Stock Issued | $- | $- | $- | $- |
| Common Stock Repurchased | $- | $- | $- | $- |
| Dividends Paid | $- | $- | $- | $- |
| Other Financing Activities | $397.00M | $2.34B | $-47.00M | $5.26B |
| Net Cash Used Provided by Financing Activities | $397.00M | $2.34B | $-47.00M | $5.26B |
| Effect of Forex Changes on Cash | $-6.00M | $2.00M | $1.00M | $3.24M |
| Net Change in Cash | $-636.00M | $81.00M | $-1.35B | $36.75M |
| Cash at End of Period | $299.00M | $935.00M | $854.00M | $2.20B |
| Cash at Beginning of Period | $935.00M | $854.00M | $2.20B | $2.16B |
| Operating Cash Flow | $-733.00M | $-1.91B | $-857.00M | $-448.24M |
| Capital Expenditure | $-338.00M | $-337.00M | $-1.46B | $-3.53B |
| Free Cash Flow | $-1.07B | $-2.25B | $-2.32B | $-3.98B |
Cash Flow Charts
| Breakdown | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 |
|---|---|---|---|---|---|---|
| Net Income | $-788.00M | $-397.00M | $-299.00M | $-527.00M | $-629.00M | $-577.00M |
| Depreciation and Amortization | $139.00M | $156.00M | $148.00M | $156.00M | $156.00M | $158.00M |
| Deferred Income Tax | $- | $- | $- | $- | $- | $- |
| Stock Based Compensation | $5.00M | $3.00M | $3.00M | $10.00M | $13.00M | $13.00M |
| Change in Working Capital | $-55.00M | $-233.00M | $-237.00M | $-10.00M | $26.00M | $-46.00M |
| Accounts Receivables | $-2.00M | $-1.00M | $2.00M | $-2.00M | $-8.00M | $-15.00M |
| Inventory | $- | $- | $- | $- | $- | $- |
| Accounts Payables | $- | $- | $- | $- | $- | $- |
| Other Working Capital | $-53.00M | $-16.00M | $-24.00M | $5.00M | $29.00M | $-31.00M |
| Other Non Cash Items | $510.00M | $17.00M | $55.00M | $117.00M | $8.00M | $255.00M |
| Net Cash Provided by Operating Activities | $-189.00M | $-246.00M | $-284.00M | $-88.00M | $-110.00M | $-197.00M |
| Investments in Property Plant and Equipment | $-46.00M | $-57.00M | $-59.00M | $-68.00M | $-95.00M | $-101.00M |
| Acquisitions Net | $- | $- | $- | $9.00M | $- | $9.00M |
| Purchases of Investments | $- | $- | $- | $- | $-1.00M | $- |
| Sales Maturities of Investments | $- | $- | $- | $- | $- | $- |
| Other Investing Activities | $5.00M | $-3.00M | $-2.00M | $1.00M | $41.00M | $7.00M |
| Net Cash Used for Investing Activities | $-41.00M | $-60.00M | $-61.00M | $-70.00M | $-51.00M | $-85.00M |
| Debt Repayment | $- | $- | $- | $- | $- | $- |
| Common Stock Issued | $- | $- | $- | $- | $- | $- |
| Common Stock Repurchased | $- | $- | $-1.00M | $-5.00M | $- | $- |
| Dividends Paid | $- | $- | $- | $- | $- | $- |
| Other Financing Activities | $458.00M | $241.00M | $353.00M | $-10.00M | $-1.00M | $386.00M |
| Net Cash Used Provided by Financing Activities | $458.00M | $241.00M | $353.00M | $-10.00M | $-1.00M | $386.00M |
| Effect of Forex Changes on Cash | $- | $-2.00M | $-1.00M | $- | $-3.00M | $-2.00M |
| Net Change in Cash | $228.00M | $-67.00M | $7.00M | $-168.00M | $-165.00M | $102.00M |
| Cash at End of Period | $467.00M | $239.00M | $306.00M | $299.00M | $467.00M | $632.00M |
| Cash at Beginning of Period | $239.00M | $306.00M | $299.00M | $467.00M | $632.00M | $530.00M |
| Operating Cash Flow | $-189.00M | $-246.00M | $-284.00M | $-88.00M | $-110.00M | $-197.00M |
| Capital Expenditure | $-46.00M | $-57.00M | $-59.00M | $-68.00M | $-95.00M | $-101.00M |
| Free Cash Flow | $-235.00M | $-303.00M | $-343.00M | $-156.00M | $-205.00M | $-298.00M |
WeWork Dividends
Explore WeWork's dividend history, including dividend yield, payout ratio, and historical payments.
WeWork News
Read the latest news about WeWork, including recent articles, headlines, and updates.
WeWork Launches Network of Coworking Partner Locations in Collaboration with Vast Coworking Group
NEW YORK--(BUSINESS WIRE)-- #WeWork--WeWork, the leading global flexible space provider, today announced the launch of its Coworking Partner Network, an affiliate program of third-party workspaces that delivers increased flexibility and choice to its members. Driving the launch of the Network is a new partnership with Vast Coworking Group, the world's largest privately-owned franchisor of coworking spaces. Vast's national portfolio of locations will now be available on the Network, which is powered by Ya.
WeWork founder Adam Neumann fails to launch crypto climate token
WeWork Inc (NYSE:WE) founder Adam Neumann looks to have another disastrous, if less costly, venture on his hands with his blockchain-based carbon-credit company Flowcarbon. According to Forbes, investors into the climate technology startup, which aims to tokenise carbon credits on the blockchain via the ‘Goddess Nature Token' cryptocurrency, are receiving refunds after Flowcarbon failed to bring the crypto token to market.
WeWork Announces Emergence from Chapter 11 and New Leadership Appointments
NEW YORK--(BUSINESS WIRE)--WeWork, the leading global flexible space provider, today announced it has successfully emerged from Chapter 11 and completed its global operational and financial restructuring. The Company also announced its new Board of Directors and the appointment of John Santora as Chief Executive Officer, and a director of the Company, effective June 12, 2024. This follows WeWork's prior announcement that David Tolley has stepped down as CEO and as a director of the Company foll.
WeWork CEO David Tolley to step down as company exits bankruptcy
WeWork announced on Tuesday that its Chief Executive Officer and Director, David Tolley, will step down following the company's global restructuring. The transition is set to occur officially once WeWork emerges from Chapter 11 bankruptcy, which is expected to happen later today.
WeWork completes UK and Ireland ‘portfolio optimisation' aka downsizing
WeWork Inc (NYSE:WE) spun a downsizing of its UK and Ireland commercial footprint into a positive when announcing the completion of its “portfolio optimisation” in a Wednesday press statement. “We are delighted to have finalised our portfolio optimisation in the UK and Ireland.
WeWork Secures Final Court Approval for Transformational Restructuring
NEW YORK--(BUSINESS WIRE)--WeWork announced today that its Plan of Reorganization has been confirmed by the United States Bankruptcy Court for the District of New Jersey, a final step in the Company's operational and financial restructuring. The Company expects to emerge from Chapter 11 in mid-June, following the completion of routine administrative matters. Nine months ago, WeWork commenced its restructuring to address its high-cost, legacy lease portfolio and dramatically reduce its corporate.
Adam Neumann ‘shut out' of WeWork buyback, capping a fraught saga between founder and company
With two days until WeWork is expected to emerge from bankruptcy, Adam Neumann has written off his fantasy of reacquiring the company he left in crisis. (To clarify, he left a crisis behind at WeWork, he did not leave in one himself; Neumann reportedly became about a billion dollars richer.
WeWork founder Adam Neumann ditches plan to reclaim company
Barefooted WeWork Inc (NYSE:WE) founder Adam Neumann has ditched his bid to acquire the bankrupt shared office space provider. Neumann, who was ousted from WeWork in 2019 after a botched IPO, tabled a $900 million bid to take the company out of bankruptcy in March via his new real estate venture Flow.
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces an Investigation of Wework, Inc.
NEW YORK , Dec. 19, 2023 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who hold stock of Wework, Inc. ("WE" or the "Company") (NYSE: WE) (formerly known as BowX Acquisition Corp. ("BOWX")). You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into potential breaches of fiduciary duty by the WE/BOWX board of directors.
7 Sorry Meme Stocks to Sell in December
In the unpredictable terrain of the stock market, meme stocks to avoid have become a critical watchlist for investors. The social media-driven phenomenon has effectively turned stocks you'd typically avoid into viral sensations, leading to temporary price surges as communities rally to boost their value.
Opinion: WeWork approached physical space as if it were virtual, which led to the company's downfall
On Nov. 6, the co-working firm WeWork filed for bankruptcy. WeWork, founded by Adam Neumann and Miguel McKelvey in 2010, had a simple business model: it signed long-term leases on urban buildings, fitting them out with modern work facilities.
7 Stocks Most Likely to Follow in WeWork's Woeful Footsteps
WeWork's (OTCMKTS: WEWKQ ) spectacular failure and recent bankruptcy filing should serve as a cautionary tale for many other troubled stocks. It should also serve to renew efforts to reassess one's portfolio and drop stocks that are bound to act as detractors overall.
Enrst & Young will no longer audit WeWork
WeWork Inc. WEWKQ, +5.81%, the once-hot office-sharing platform that filed for bankruptcy protection this month, said on Monday that Ernst & Young “will not seek to be retained” as its accounting firm and would thus no longer audit the company following its chapter 11 filing. WeWork, in a filing, said there was “no dispute” between the two.
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