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SoftBank May Bail On $3 Billion Of Its WeWork Bailout

SoftBank May Bail On $3 Billion Of Its WeWork Bailout

Japanese conglomerate SoftBank is trying to backpedal from part of its bailout of tanking coworking space firm WeWork, the Wall Street Journal reported on Tuesday, citing Department of Justice and Securities and Exchange Commission investigations into the latter company’s business practices.

WeWork Is Now Dealing With A US Federal Investigation

WeWork Is Now Dealing With A US Federal Investigation

However WeWork may be defined—transformative office space startup or cult-like Silicon Valley unicorn—the U.S. Securities Exchange Commission reportedly believes the company warrants inquiry. Sources familiar with the matter told Bloomberg the SEC has begun scrutinizing the corporation over concerns that investors may have been misled ahead of WeWork’s disastrous initial-public-offering-that-wasn’t.

Swindled WeWorkers Ask For Dignity

Swindled WeWorkers Ask For Dignity

As the drunken mist clears in the wake of Adam Neumann’s long con that was WeWork, employees are calling for a modicum of sanity. In preparation for thousands of layoffs, which the company has reportedly delayed because it can’t afford severance, the non-unionized group who call themselves the WeWorkers Coalition…