WeWork Inc.

WE

Market cap $44.1M

WeWork announced on Tuesday that its Chief Executive Officer and Director, David Tolley, will step down following the company's global restructuring. The transition is set to occur officially once WeWork emerges from Chapter 11 bankruptcy, which is expected to happen later today.

WeWork had rejected an alternate buyout proposal offered by its co-founder Adam Neumann.

The only thing you had to do to make money in the stock market in 2023 was buy a low-fee index fund and sit on the couch. The S&P 500 Index shot up more than 20% and the Dow hit a record high this month.

NEW YORK , Dec. 19, 2023 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who hold stock of Wework, Inc. ("WE" or the "Company") (NYSE: WE) (formerly known as BowX Acquisition Corp. ("BOWX")). You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into potential breaches of fiduciary duty by the WE/BOWX board of directors.

Shared office space provider WeWork Inc has appointed insider Claudio Hidalgo as chief operating officer, the company said on Tuesday.

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On Nov. 6, the co-working firm WeWork filed for bankruptcy. WeWork, founded by Adam Neumann and Miguel McKelvey in 2010, had a simple business model: it signed long-term leases on urban buildings, fitting them out with modern work facilities.

WeWork said on Tuesday it had secured commitments for up to $682.5 million in debtor-in-possession financing from some of its lenders, weeks after the shared office space provider filed for bankruptcy protection.