blog

Progress Report: WeWork 90 Days After Announcing A 90-Day Turnaround Plan

Written by CRETech | Jan 14, 2020 12:00:09 PM

SoftBank Group CEO Masayoshi Son claimed turning WeWork around would be simple, but the two months since his company took control have proven to be just the start of a long process. Jan. 9 marked 90 days since WeWork gave a presentation to investors laying out a 90-day plan to pull the company out of the spiral that began with its disastrous IPO filing. The PowerPoint was shown Oct. 11, when the company was in negotiations for a bailout loan from JPMorgan Chase, Pitchbook reported. But when SoftBank took over majority ownership in early November, the 90-day time frame was quietly discarded, a WeWork spokesperson confirmed to Bisnow.