Read All About It: WeWork Is Trying To Turn Itself Around
WeWork’s year has made for attention-getting headlines, but not exactly great business. Now, the company is attempting to rebuild its reputation through full-page ads that ran in newspapers like The New York Times, The Wall Street Journal, USA Today and others.
The ad is the first big move by the company’s new chief marketing officer, Maurice Levy and was created by Publicis Groupe where he is a chairman.
WeWork’s troubling past few years is mostly the cause for this damage control. Despite its unicorn status, the questionable business practices of the coworking company’s unhinged former CEO Adam Neumann and major financial losses caused investors to lose interest.
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Now, WeWork and SoftBank have attempted to turn things around, starting with replacing the majority of its leadership team, including Neumann, laying off thousands of employees and now, the ads.
The ads claim that the company is “focused, determined and ready to do what’s needed” but in the long run, actions will speak louder than words.
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