WeWork’s unraveling hit SoftBank and other investors who enabled the company’s rise. But Wall Street also fed the company’s breakneck growth.
JPMorgan Chase & Co., Goldman Sachs Group Inc. and other banks arranged giant fees and strict protections that reflected their concerns about WeWork’s unproven business model and Mr. Neumann’s unpredictable behavior.
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How SoftBank says it’ll fix WeWork and turn it profitableSoftBank founder Masayoshi Son said turning around WeWork would be “simple.”
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WeWork chairman Marcelo Claure told staff he's trying to clean up WeWork, after firing 13 people for abusing vendor policiesThe SoftBank-installed chairman showed employees he does business differently than the company's founder, Adam Neumann.
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READ: WeWork lays out five-year plan priorities in leaked memo - Business InsiderThe plan will include a new organizational and compensation plan; and financial restructuring that eliminates the need to raise more capital.
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A Former WeWork Executive’s Complaint Alleges A Pattern Of Gender DiscriminationThe 24-page complaint is intended to become a class action lawsuit on behalf of other female employees who, the complaint alleges, also experienced gender or pregnancy discrimination, gender pay disparities and retaliation.
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SoftBank Founder Calls His Judgment ‘Really Bad’ After $4.7 Billion WeWork Hit“I regret it in many ways,” Chief Executive Masayoshi Son said of the investment, after SoftBank marked down the total value of WeWork’s equity to $7.8 billion.
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SoftBank's latest valuation of WeWork is lower than previously thought — at under $5 billionThe managers of SoftBank's $100 billion Vision Fund slashed their pre-bailout valuation of WeWork by 83% in the space of three months.
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