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NewsBreak: WeWork CEO Stepping Down - Report

Stock MarketsSep 25, 2019 04:16AM ET
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Investing.com - WeWork co-founder Adam Neumann is stepping down as CEO in the wake of the company’s delayed IPO, the New York Times reported Tuesday.

  • Neumann was pressured by board members to give up his post, but will remain nonexecutive chairman of WeWork parent We Co., the Times said, citing a person briefed on the decision.
  • Current executives Sebastian Gunningham and Artie Minson will serve as interim co-chief executives, the Times reported.
  • WeWork also may lay off as many as 5,000 employees, a third of its workforce, in an effort to cut costs, The Information reported Tuesday.
  • NewsBreak: WeWork CEO Stepping Down - Report
     

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    Comments (2)
    Kenneth Mercer-Wood
    Kenneth Mercer-Wood Sep 24, 2019 3:06PM ET
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    What a travesty. I hope they find a way out and are able keep its workforce intact..
    Anthony Robinson
    Anthony Robinson Sep 24, 2019 2:49PM ET
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    Too bad! One of my favs. The culture at WeWork's offices is awesome.The global footprint enables scaling for startups.
     
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