Advertisement
Back To Daily Digest
Tags: BUSINESS

WeWork Seeks $4 Billion To Keep It Afloat

New reports have revealed that WeWork is looking for $4 billion from its largest shareholder SoftBank and JPMorgan. Click To Tweet

WeWork is in talks with SoftBank for a $1 billion injection, which it hopes to jimmy into a $3 billion debt deal with JPMorgan.

WeWork hopes to secure the funds as early as next week ahead of it revealing an outline for layoffs and asset sales to its employees. One source said that JPMorgan is wary of beginning negotiations before WeWork signs a new deal with SoftBank.

SoftBank’s injection would finance WeWork’s restructuring plans after the conglomerate decided that more cash is necessary to save its $10 billion investment. Before it moves forward with the funding, SoftBank is seeking to tweak the $1.5 billion warrant deal it struck with WeWork in January.

The Latest News
Delivered To Your Inbox

WeWork delayed its IPO last month after the company came under great criticism for its financial losses, business model and corporate governance structure that led co-founder Adam Neumann to step down as CEO.

The company’s new co-CEOs Artie Minson and Sebastian Gunningham are planning to lay off 10% to 25% of the firm’s 12,500 staffers. It also plans to sell off its acquired companies that do not focus on their core business.

ABOUT Aayat Ali
Aayat Ali

Aayat is an editor for the Daily Digest based out of Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces. Feel free to reach out to her at [email protected] View all posts by Aayat Ali

Latest on Daily Digest

Should You Take A Workcation?

China Coworking Company To Receive UN Award

London Is The Top Destination For Gen Z Workers

Should WeWork Be Left For Dead?

The Executive Centre Continues Its Expansion In China

WeWork Hits The Brakes On China Expansion

How UK Landlords Can Benefit From Flex Space

Ad
Advertisement

FOLLOW US

  • Facebook
  • Twitter
  • LinkedIn
  • RSS
  • instagram
  • pinterest
Ad
Advertisement
Advertisement

POPULAR ARTICLES

Advertisement
Advertisement

Stay On Top Of Your Game!

Subscribe To The Largest Publication On The Future Of Work And Receive Our TOP 10 News Stories Every Friday, Among Other Cool Stuff. 100% FREE

leaving so s0on?

Get A Free Subscription To Our Weekly Premium Publication

If It’s Affecting The Future Of Work, You’ll Know About It.