Foundering

WeWork Part 7: In the End, There Was Adam

Jul 30, 2020
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ANECDOTE

Employee Layoffs Crushed Morale

  • Thousands of WeWork employees faced waves of layoffs after the failed IPO and SoftBank bailout.
  • Employees described collapsed morale, people avoiding work and even hoping to be laid off.
ANECDOTE

Employees Publicly Protested Neumann's Payout

  • Employees wrote a public letter demanding fair severance and contrasted their situation with Adam Neumann's payout.
  • They called his $1.7 billion package 'graft' and asked to be treated with dignity.
ANECDOTE

Neumann's Exile In Israel

  • After leaving WeWork, Adam Neumann moved to Israel and kept a low public profile while still making deals.
  • His mother said he felt more loved after his fall and he socialized in the beach community.
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