Wework board members consider removing chief executive Adam Neumann September 22, 2019 Some Wework board members, including some tied to major investor Softbank, are planning to try to force chief executive Adam Neumann to step down, according to reports. The board of the We Company’s board could meet as soon as this week, and may consider a proposal for Neumann to become the firm’s non-executive chairman, the [...]
Wework adds woman to board after criticism ahead of IPO September 4, 2019 The We Company, which owns office space provider Wework, has said it will add a woman to its board of directors and unwind a $5.9m (£4.8m) payment to its chief executive for use of the trademarked word “we” as it prepares for an initial public offering (IPO). We Company had faced criticism from analysts over [...]
City A.M. to return to print this coming Monday September 20 September 17, 2021 After eighteen months of pandemic-induced absence, City A.M. will return to London’s streets as a physical newspaper this Monday September 20. We suspended printing in March 2020 at the start of the Covid-19 pandemic, instead bringing you all the news from business and politics here on CityAM.com. We will keep doing exactly that, but with [...]
Wework rival Knotel expands London presence with new City locations September 18, 2019 Knotel, the flexible workspace rival to Wework, has snapped up a string of new City locations as it continues to expand its presence in the capital. Read more: Wework rival Knotel secured unicorn status with $400m fundraising The New York-based startup has signed an agreement with property developer Great Portland Estates to take over 82,000 [...]
Euan Blair interview: Is Multiverse’s educational mission a reality? November 28, 2023 Euan Blair's educational firm Multiverse now makes the majority of its revenues from upskilling employees already in work. Has it abandoned its original mission?
Business chiefs urge Boris Johnson to speed up return to office review March 5, 2021 The bosses of some of London’s top businesses have urged Boris Johnson to accelerate a review that will determine when people can return to the office. The government is set to carry out a review of Covid safety measures such as one-metre social distancing and mask-wearing that will pave the way for a return to [...]
Wework set to sack 2,000 employees as bosses weigh up rescue plans October 15, 2019 Wework is said to be preparing as many as 2,000 layoffs in the coming weeks as its new bosses battle to keep the company afloat. The troubled co-working giant is looking to cut roughly 13 per cent of its global workforce starting as early as this week, the Guardian reported. Read more: Softbank seeks control [...]
Wework IPO: Firm cuts founder’s supervoting power to save float September 13, 2019 Wework is set to slash the supervoting power of its co-founder to assuage fears of investors as it tries to save the company’s initial public offering (IPO). The firm will also appoint a lead independent director by the end of the year as well as cut Neumann’s voting power from 20 votes per share to [...]
The spectre of entrenched inflation will soon hit loss-making start-ups hard February 18, 2022 Larry Summers was Treasury Secretary to Bill Clinton, Barack Obama’s Director of the National Economic Council, and President of Harvard University. When he offers an economic prediction, therefore, he is worth listening to. A recent one was sobering. Summers believes we are entering a period of “higher entrenched inflation”. Make no mistake: inflation is a [...]
Wework sells former CEO Adam Neumann’s $60m private jet September 27, 2019 Wework is reportedly preparing to sell ex-chief executive Adam Neumann’s $60m private jet after the founder was this week forced to step down from the company. Some investors said the private plane was a sign of poor corporate governance in the lead up to the firm’s delayed initial public offering, Business Insider reported. Read more: [...]