NEW YORK - The We Company, parent of money-losing shared office provider WeWork, which last year yanked plans to go public after harsh criticism over its business model and erratic management, is dropping the “we” moniker to revert to its better-known name, according to an internal memo seen by Reuters.
Neumann was widely criticized when the company disclosed he had trademarked the brand and received a $5.9 million payment from WeWork for its use. “We want to be strategic. We want to be innovative. We want to be impactful. We want to be WeWork,” Mathrani wrote.WeWork, which has been slammed by the coronavirus-induced recession along with many other businesses, has said it will become profitable by the end of 2021.
WeWork in August said it had slashed its cash burn rate to $482 million in the second quarter, or almost in half from the end of 2019. The company also said it had obtained a $1.1 billion commitment in new financing from SoftBank.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
How much did they pay Adam this time to change it back?
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Exclusive: The We Company drops 'We' name to restore WeWork as company's official nameThe We Company, parent of money-losing shared office provider WeWork, which last year yanked plans to go public after harsh criticism over its business model and erratic management, is dropping the 'we' moniker to revert to its better-known name, according to an internal... How are they still in business? But WE know who they are despite the name change.
Source: Reuters - 🏆 2. / 97 Read more »
July Is the New January: More Companies Delay Return to the OfficeWhen the coronavirus pandemic shuttered offices around the United States in March, many companies told their employees that it would be only a short hiatus away from headquarters.Workers, they said, would be back in their cubicles within a matter of weeks. Weeks turned into September. Then September
Source: YahooNews - 🏆 380. / 59 Read more »
Fired Private Equity Partner Steals Office Supply Company On Way OutThe Onion brings you all of the latest news, stories, photos, videos and more from America's finest news source. pens cost a lot. Utter brilliance! More likely it was part of his multimillion dollar severance package for doing a terrible job.
Source: TheOnion - 🏆 724. / 51 Read more »
AMC shares tumble as company works to raise funds, faces cash-crunch at year's endAMC CEO Adam Aron said the company is not considering bankruptcy at the moment and is focused on raising cash. Their owned by China let the fall
Source: CNBC - 🏆 12. / 72 Read more »
Bank of America shares dip as company misses on third-quarter revenueWill Bank of America join rivals by posting improving results as loan provisions subside? good Congress won’t delay bailing them out I’m sure Bank stocks are garbage. Will someone tell the pumpers on CNBC to stop promoting them? They keep doing nothing but going down
Source: CNBC - 🏆 12. / 72 Read more »