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- WeWork pulled its IPO in 2019 after mulling a massive valuation cut to drum up investor interest, and cofounder Adam Neumann was ousted as CEO and chairman. WeWork has been slashing jobs and selling or shuttering businesses.
- New CEO real-estate veteran Sandeep Mathrani started in February, replacing Artie Minson and Sebastian Gunningham, who served as co-CEOs since Neumann was ousted.
- In April, investor SoftBank said it's backing out of its plan to buy $3 billion worth of WeWork shares, including nearly $1 billion from Neumann. The decision also most likely means WeWork won't be able to tap into a $1.1 billion credit line from the Japanese conglomerate.
