As WeWork investors jousted over Adam Neumann’s future at the company he built, a parallel debate by WeWork executives and bankers has centered on just how deeply the company should cut costs to save its business.
In recent days, a group of executives from WeWork’s parent company and bankers have been discussing ways to reduce costs, including laying off as many as 5, 000 employees — a third of its workforce. Other ideas include slowing expansion plans and shutting side businesses related to education or housing, said a person close to the company and a person familiar with the matter. The moves would be aimed at restoring investor confidence as the company looks to save its initial public offering or raise funds privately.
This article is part of our archive of over 3, 300 stories and is only available to subscribers. To get a preview of the work we do, you canenter your email to access the full article.
Exclusive Articles
We broke it first. Receive original reporting you won’t read anywhere else from the largest newsroom in tech.
Daily news analysis
Every weeknight, we’ll send you our reporters ’views on the day’s top tech news — distilled into one email.
Conference calls
Get access to our reporters and other top executives with monthly deep-dive calls into topics like startups and autonomous vehicles.
Special Events
For no extra fee, get access to more than a dozen events yearly, from intimate dinners to larger gatherings with marquee speakers.
What else is included in my subscription?
Become a contributor
Share your views and find other subscribers by completing your profile. You’ll be listed in our contributor directory.
Slack community
Discuss topics and current events with our subscriber-only Slack group and share news about your company with other subscribers.
Annual Subscriber only benefits:
Org Charts
Access the only collection of tech company org charts. Our expanding database includes companies like Amazon, Snap, and Uber.
Crypto Newsletter
Our experts investigate the latest in the crypto world to keep you in-the-know about the movements of digital currencies.
Stay up to date on Silicon Valley
Sign up for Jessica Lessin’s (The Information’s CEO & Founder) free Saturday newsletter and also receive a complimentary week of our daily afternoon tech commentary email.
Already a subscriber? Log in here
GIPHY App Key not set. Please check settings