Page 2 - Wework

SoftBank attempted to delay WeWork's $3 bn share purchase: Court filing

(Reuters) - SoftBank Group <9984.T> CEO Masayoshi Son told the executive he tasked to turn around WeWork after its botched initial public offering to "use whatever excuse" to delay a $3 billion payout to the office-sharing startup's shareholders, a court transcript released on Wednesday showed.

WeWork: Cult as business

Book review of BILLION DOLLAR LOSER: The Epic Rise and Spectacular Fall of Adam Neumann and WeWork

WeWork India appoints new Chief Financial Officer, General Counsel

Co-working major WeWork India on Friday said it has appointed Clifford Loboas Chief Financial Officer(CFO). It has also appointed Hiranmai Rallabandi as General Counsel while Santosh Martinhas been elevated toHead of Sales. "Clifford Lobohas been appointed the newCFO at WeWork India...Hiranmai Rallabandi joinsasThe General Counsel of WeWork India," the company said in a statement. WeWork India said the strategic appointments have been made to the India leadership team for sustainable growth. In his new role, Clifford will be responsible for working through partnerships and merger and acquisition (M&A) to drive business growth and profitability for the business, it said. Before joining WeWork India, Clifford played an operations role at ESPN India, managing commercial and product innovation aside from finance, controllers, tax, and administrative responsibilities. Hiranmai joins WeWork with over 20 years of experience at various important positions in corporate & real estate ...

WeWork sells control of China unit; says unit got $200 million in funding

WeWork said it will sell control of its China division to one of its investors as it steps back from a competitive market where it has suffered low-occupancy rates

WeWork appoints Benjamin Dunham as new CFO replacing Kimberly Ross

Dunham, most recently the finance head of WeWork Americas, will assume office on Oct. 1, the company said

We'll be profitable again by end of the year: Karan Virwani of WeWork India

In a Q&A, the CEO of the global co-working space company says his firm has been flexible on terms and has also reached out to bigger clients

WeWork India expects 25% growth in revenue for 2020 despite Covid-19

WeWork India, which is owned by Bengaluru-based realty firm Embassy Group, has 34 centres comprising 60,000 desks across six major cities

WeWork gets new $1.1 billion commitment from SoftBank, cuts cash burn rate

Revenue in the quarter reached $882 million, a 9% increase from a year earlier

With SoftBank rally, founder Masayoshi Son adds $12 bn to fortune

With SoftBank Group's shares surging to their highest price in two decades on Thursday, Son's net worth hit $20 billion

SoftBank Group shares reach highest level since 2000 on recovery hopes

The stock rose 4.6 per cent to 6,190 yen ($58) on Tuesday, the highest since March 2000.

Fresh troubles for SoftBank's Masayoshi Son as Wirecard drama unfolds

Wirecard won't force SoftBank to write down any assets - because the tech conglomerate never put money into Wirecard itself.

10 well-known companies that laid off staff due to coronavirus

Here is the list of major companies that have said they are downsizing their workforce

SoftBank Vision Fund posts $17.7 billion loss on WeWork, Uber Technologies

Takes hit after writing down the value of investments in WeWork, Uber and others; plans to double buybacks

WeWork India cuts 20% staff, says hard decisions needed to sustain pandemic

Virwani also noted in the communication that the first priority of the company is to get the maximum value from its buildings and reduce costs by the business efficiently

WeWork directors seek to preserve right to sue SoftBank over a $3 bn tender

This comes after lawyers for SoftBank last month wrote to WeWork's board to request that it confirm the special committee is not authorized to act on behalf of WeWork

WeWork co-founder Neumann sues SoftBank over failed $3 bn tender offer

Adam Neumann's lawsuit alleges 'brazen abuses' on part of Japan's SoftBank Group Corp and its Vision Fund.

SoftBank Group sees wider loss of $8.4 billion on WeWork write-down

The Japanese company made the announcement in a statement Thursday, citing more than 1 trillion yen of non-operating losses from investments held outside of its $100 billion Vision Fund.

SoftBank sees a net loss of around $8.4 billion on WeWork writedown

SoftBank maintained its forecast of a record annual operating loss of 1.35 trillion yen announced earlier this month as bets via the $100 billion fund sour

SoftBank group to abandon $3 billion deal for additional WeWork shares

The US-based company's committee said it will evaluate all its legal options, including litigation and remained committed to reaching a solution.

SoftBank looks to abandon $3-bn deal as WeWork fails to fulfill conditions

SoftBank in October agreed to buy up to $3 billion WeWork shares from existing investors through a tender offer, as part of a broader bailout worth almost $10 billion