WeWork is planning to lay off up to 25% of its employees
businessinsider.com
WeWork is planning to lay off up to 25% of its employees
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Re: WeWork is planning to lay off up to 25% of its employees
#2I hope everyone can take break from the we-work-bashing for a few minutes and agree that regardless of screwy business models, almost four thousand people being laid off is sad. I suppose everyone is partially responsible for understanding the viability of his company and taking that risk in an informed fashion, it's still not a good thing.
Re: WeWork is planning to lay off up to 25% of its employees
#3I hope everyone can take break from the we-work-bashing for a few minutes and agree that regardless of screwy business models, almost four thousand people being laid off is sad. I suppose everyone is partially responsible for understanding the viability of his company and taking that risk in an informed fashion, it's still not a good thing.
> I suppose everyone is partially responsible for understanding the viability of his company and taking that risk in an informed fashion
Nah, I'd say leadership is clearly at fault. Layoffs are pretty much always failures of leadership.
Re: WeWork is planning to lay off up to 25% of its employees
#4I hope everyone can take break from the we-work-bashing for a few minutes and agree that regardless of screwy business models, almost four thousand people being laid off is sad. I suppose everyone is partially responsible for understanding the viability of his company and taking that risk in an informed fashion, it's still not a good thing.
> I suppose everyone is partially responsible for understanding the viability of his company and taking that risk in an informed fashion Nah, I'd say leadership is clearly at fault. Layoffs are pretty much always failures of leadership.
That's the whole point of leadership according to Simon Sinek. Leaders are granted privileges and power and in return must stand by the decisions they have made. Without that they aren't leaders but merely authorities.
Re: WeWork is planning to lay off up to 25% of its employees
#5I first heard of WeWork a few months ago. Seemed like just another company (admittedly I did very little to look into it). How is it that this company went from filing for public offering to laying off up to 25% of it's work force (along with a ton of other things I can't think of specifically at the moment) in just a few short weeks?
Re: WeWork is planning to lay off up to 25% of its employees
#6I first heard of WeWork a few months ago. Seemed like just another company (admittedly I did very little to look into it). How is it that this company went from filing for public offering to laying off up to 25% of it's work force (along with a ton of other things I can't think of specifically at the moment) in just a few short weeks?
Investors drove up the IPO valuation to make a big exit, then everyone realized the price was bullshit and it fell apart.
Re: WeWork is planning to lay off up to 25% of its employees
#7I first heard of WeWork a few months ago. Seemed like just another company (admittedly I did very little to look into it). How is it that this company went from filing for public offering to laying off up to 25% of it's work force (along with a ton of other things I can't think of specifically at the moment) in just a few short weeks?
https://www.profgalloway.com/wewtf and https://www.profgalloway.com/wewtf-part-deux, more or less. Once you drop a S-1 and everone gets to look in your laundry basket, any number of things can happen.
Re: WeWork is planning to lay off up to 25% of its employees
#8I hope everyone can take break from the we-work-bashing for a few minutes and agree that regardless of screwy business models, almost four thousand people being laid off is sad. I suppose everyone is partially responsible for understanding the viability of his company and taking that risk in an informed fashion, it's still not a good thing.
>everyone is partially responsible for understanding the viability of his company and taking that risk in an informed fashion
Why?
Re: WeWork is planning to lay off up to 25% of its employees
#9Was almost an inevitability it seemed like with all the other news, IPO ended etc. While this is a huge deal, is it really going to change anything about the underlying business?
Let's say there's only 10% of employees or some very low number. Would then the Real Estate deals put in place vs. the Revenue received for re-leasing them pencil out positive?
Re: WeWork is planning to lay off up to 25% of its employees
#10I first heard of WeWork a few months ago. Seemed like just another company (admittedly I did very little to look into it). How is it that this company went from filing for public offering to laying off up to 25% of it's work force (along with a ton of other things I can't think of specifically at the moment) in just a few short weeks?
The “How I Built This” on WeWork[1] was fascinating. Basically the 2008 financial crises increased vacancies in trendy places a lot. WeWork grew up with the trends in coworking. But really has turned into a very fancy middle man for turning buildings into beautiful coworking office spaces. The brand for a while had some cache, but the thing is many are realizing that they can also build beautiful coworking spaces and there’s no magic secret sauce IP or tech that makes WeWork special here. In this context, WeWork has only gotten weirder and full of itself... they just seem disconnected from reality from what they are while at the same time losing money hand over fist.
1 - https://www.npr.org/2018/08/31/643774290/wework-miguel-mckel...