WeWork’s long road to rehabilitation starts with ditching its co-founder | Nils Pratley
Officially the firm’s IPO is on pause but it looks impossible as long as Adam Neumann stays around
Officially, WeWork is “postponing” its initial public offering (IPO), or stock market flotation, and could return for another attempt soon. Well, good luck. The uncertain road to rehabilitation looks more like the work of many years.
The new co-chief executives, Artie Minson and Sebastian Gunningham, are dropping the right hints about selling the Gulfstream jet and cutting thousands of jobs. One assumes WeWork will also jettison its corporate drivel about “elevating the world’s consciousness” if it now accepts it’s a regular company in the dull world of shared office spaces.