WeWork cuts back office perks

erek

Supreme [H]ardness
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Dec 19, 2005
Messages
4,434
WeWork is cutting back on office perks and closing down honesty-based snack and beverage kiosks in a bid to trim costs, Bloomberg reports, citing anonymous sources. The struggling office-leasing startup said it's piloting new food and beverage offerings and has already replaced some Honesty Markets with WeMRKTs, which sell products from WeWork’s member companies. The office-sharing company is preparing to let go of roughly a third of its global workforce, The New York Times reports, citing anonymous sources, and WeWork said U.S. layoffs will begin “in earnest” this week.



https://www.bloomberg.com/news/articles/2019-11-19/wework-scales-back-on-honesty-based-snack-and-drink-kiosks
 

westrock2000

[H]F Junkie
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Jun 3, 2005
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9,169
worked in corporate life for the last 20 years. First signs an organization is having problem is the break room goodies go away.
You say that, but I work at a large semiconductor company and we have a lot of employees that came from other companies that don't exist anymore. They say stuff "I remember working at XYZ, where they gave free ABC, life was so good back then". And to that I always say, ya that sounds great.....but they aren't in business anymore, and here you are. You can't buy a 50" 4K TV for $200 and treat the employees making them like royalty. We are all part of the race to the bottom.

That being said, I never trusted this WeWork thing....seems (to me) they were taking advantage of industries that were taking advantage of people.
 

SamuelL421

Limp Gawd
Joined
Jun 3, 2016
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196
...
That being said, I never trusted this WeWork thing....seems (to me) they were taking advantage of industries that were taking advantage of people.
From what I've seen, the viable form of this venture is a "mom & pop" / small business version where someone opens a shared office space and then tailors it to the needs of local remote workers. I know of a few in the MD/DC/VA region that seem to be doing ok... that said, I highly doubt the owners are making a killing for the effort involved in upkeep and marketing. I never understood how WeWork could make money at a large scale, turns out they can't.
 

Smashing Young Man

[H]ard|Gawd
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Sep 11, 2009
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1,561
The tech world revolves around the cult of personality. Theranos and WeWork show how you can dazzle investors with bullshit. I know WeWork isn't really a tech company—it's a real estate company in truth—but they marketed themselves in a very Silicon Valley way.
 

$trapped

Weaksauce
Joined
Jan 18, 2012
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121
The tech world revolves around the cult of personality. Theranos and WeWork show how you can dazzle investors with bullshit. I know WeWork isn't really a tech company—it's a real estate company in truth—but they marketed themselves in a very Silicon Valley way.
Which begs the question why this story was posted in the first place.
 

Private_Ops

[H]ard|Gawd
Joined
Jun 4, 2007
Messages
1,858
worked in corporate life for the last 20 years. First signs an organization is having problem is the break room goodies go away. You see that? Don't care what anyone says.. Layoffs are coming.
Or in the case of where I currently work. They cut everything to the bone to boost the stock price and line their own pockets and leave just before it all comes crashing down.
 

kdh

Gawd
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Mar 16, 2005
Messages
803
Read a little closer into this wework thing. Smashing Young man is right. Was a real estate business w some tech cool splashed in. Folks would buy out or rent crap office locations, throw some paint on the walls, make them look cool, bean bag chair here.. Foosball table there and.. TA-DA! It could have been something special but the folks at the top took advantage of it from day one. Another one of those really good idea's at first, but the idea was polluted with a bunch of other nonsense ideas, ego and money ruined it. It doesnt help when your CEO is known to rent private jets, smoke a bunch of weed on them, or throw tequila laced parties with run DMC when you lay people off.

https://www.spin.com/2019/09/run-dmc-wework-performance/

https://www.businessinsider.com/wework-ceo-adam-neumann-smoked-weed-private-jet-report-2019-9

Was a lot of fun for a very few select people.
 

erek

Supreme [H]ardness
Joined
Dec 19, 2005
Messages
4,434
Read a little closer into this wework thing. Smashing Young man is right. Was a real estate business w some tech cool splashed in. Folks would buy out or rent crap office locations, throw some paint on the walls, make them look cool, bean bag chair here.. Foosball table there and.. TA-DA! It could have been something special but the folks at the top took advantage of it from day one. Another one of those really good idea's at first, but the idea was polluted with a bunch of other nonsense ideas, ego and money ruined it. It doesnt help when your CEO is known to rent private jets, smoke a bunch of weed on them, or throw tequila laced parties with run DMC when you lay people off.

https://www.spin.com/2019/09/run-dmc-wework-performance/

https://www.businessinsider.com/wework-ceo-adam-neumann-smoked-weed-private-jet-report-2019-9

Was a lot of fun for a very few select people.
https://markets.businessinsider.com/news/stocks/wework-interim-cmo-publicis-maurice-levy-didnt-want-job-ft-2019-11-1028715179
 

bonehead123

[H]ard|Gawd
Joined
Nov 27, 2011
Messages
1,076
Typical corporate crap... those at the top live like kings while using & abusing those below them, who struggle to make ends meet.....

rinse, repeat, every day every week everywhere...

to quote one of my favorite bands:

"mOnEy.....is the root of all evil today"
 

singe_101

2[H]4U
Joined
Dec 17, 2005
Messages
2,110
Even if they're wasteful it's basically SoftBank billions flowing to U.S. companies that furnish, clean, stock the beer, deliver food, etc. to these WeWork spaces or the nearby restaurants.
 

Algrim

[H]ard|Gawd
Joined
Jun 1, 2016
Messages
1,657
Typical corporate crap... those at the top live like kings while using & abusing those below them, who struggle to make ends meet.....

rinse, repeat, every day every week everywhere...

to quote one of my favorite bands:

"mOnEy.....is the root of all evil today"
Companies are like a tree full of monkeys. The monkeys at the top look down and see shiny happy faces. The monkeys at the bottom look up and see a bunch of assholes. (I don't know who wrote it but it's not mine; I just love it for its accuracy.)
 
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