Definitely, the organization of the WeWork company, recently renamed by “The We Compagny”, is rather particular. An article published in the Wall street journal on September 18 allowed to learn more about a mysterious evening two years ago, organized in the offices of the head office.
The multi-billion dollar office rental startup is said to have invited some of its remaining employees after a sudden layoff of more than 7% of the workforce was declared. To update his staff on the explanation for the decision, CEO Adam Neumann is reported to have ordered trays of tequila shots, as well as a musical performance by Darryl McDaniels of hip-hop group “Run-DMC”.
A funny decision, while the decision to dismiss 7% of WeWork staff found its explanation in a need to reduce costs. A choice considered “difficult” for Neumann. This reaction seems rather distant with the organization of this alcoholic and rather festive evening, where although some people danced, others were shown “Amazed and confused”. The article from Wall street journal also lists the PDG’s pronounced tastes for the 1942 Don Julio cuvées, costing more than $ 100 a bottle.
WeWork wanted to lay off 20% of its staff
This situation dates back to 2016, but the troubles at WeWork seem to continue. Two days ago, the company finally decided to postpone the date of its IPO. According to the company and the media that had been able to contact the startup’s teams, this choice was reasoned by investors’ doubts, and the need for WeWork to avoid returning to Wall Street prematurely.
To come back to the facts of 2016, the Wall street journal indicates that WeWork had ultimately failed to meet its layoff target it had set for itself. At the time, Adam Neumann had asked his team to fire as much as 20% of the company’s staff for several years. The newspaper also reports that the wife of the CEO and co-founder, Rebekah Neumann, “Had requested the dismissal of several employees after meeting them for only a few minutes. “