SoftBank Looking to Reduce $3 Billion WeWork Rescue Offer, Report Says
The plan is intended to limit the $1.7 billion bailout payment offered to former CEO Adam Neumann, Bloomberg reported Friday
Japanese holding company SoftBank is looking to reduce the $3 billion rescue offer it recently made for shares of struggling coworking company WeWork, Bloomberg reported Friday. Citing people familiar with the matter who spoke on condition of anonymity, Bloomberg said the move is intended to limit the $1.7 billion bailout payment offered to former CEO Adam Neumann.
On Thursday, Calcalist reported WeWork intends to fire several dozen employees at its research and development center in Israel, as part of a massive global streamlining process that would see thousands of people looking for new jobs.
WeWork co-founder and former CEO Adam Neumann. Photo: Dan Keinan