Wework employees : Hows it going ?
Latest news states Softbank is taking controlling stake at 7-8 billion valuation. That reduces your stock value quite a bit, which must be a bummer, but at least the worst is behind you hopefully. You might also be worried about layoffs, or have they happened already ? Posting out of genuine concern only! Until recently I was actually thinking of exploring a role at Wework!
Got PIP'd? See a smirk on your face while typing this... TC or GTFO and dont make shit up
Seriously, OP has no consideration. "This reduces your stock value :) ... but at least the worst is behind you :^) ... oh you're probably getting laid off too :^)))"
No smirk at all, you are misunderstanding me
I heard that offers in last 1-2 years included a lot of cash, and those people would likely be ok (if not laid off). The old timers had a lesser valuation anyway. It’s the people in the middle who will be screwed up
The old timers have the most exposure so they surely are the most screwed.
Yep I had an offer from wework for over 200k base for SSE
$400k stock @ $110 each (47bn valuation). If the 8bn story pans out, not accounting to any dilution, that’ll mean... 60-something thousand over 4 years? Lol.
Looks like SoftBank is offering $6.5B to take control. This offer would buy out employees at $20 per share and Adam walks away with a cool $200M. Unfortunately Softbank will most likely slash headcount as they are in a world of shit. They had no choice but to bail out wework by digging a deeper hole for themselves. The hole is now so deep that if this venture craters SoftBank will def have some pissed off middle eastern investors. Son might find himself in the Saudi Ritz Carlton.
Son has nobody to blame but himself and his 1million years vision.
I would kill to be in the room to hear Son pitching vision fund 2 while Uber, Slack, and Wework are crashing and burning. The Q and A segment would require some popcorn.
I am curious to understand how badly folks have gotten diluted. This has to be just horrible for morale. I wonder if anyone will stay.
Went from $250k in RSUs to $40k...if I could exercise them
Sorry to hear that