Marcelo Claure has taken over the mantle as the executive chairman of WeWork which is a company that is undergoing a huge struggle. Marcelo is a man who is known to be a close aide of Masayoshi Son of SoftBank. SoftBank has invested an amount of more than $10 billion the co-working company. Marcelo has also been preparing to testify in the case that has been brought against T-Mobile’s Merger which Sprint as Claure is the executive chairman there as well.
Soon after the planned IPO of WeWork saw a collapse in the month of September, he had said that he has been working through the day with the two co-CEOs of the company to come up with a turnaround plan. He says that the company had reached a stage where it was extremely close to being out of cash. Marcelo said this in the first interview he gave since the Japanese giant had taken the control effectively of the workspace sharing company.
It has been a difficult transition. Besides the stabilization of the financial situation of the company, WeWork has had to deal with all the news regarding the drama that surrounds Adam Neumann, its founder, and his prospective receipt of close to $1 billion from the company although there are over 4,000 employees who are getting laid off or transferred.
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According to Marcelo, the details of the transaction with Neumann though are misunderstood and he says that the company’s prospects were extremely strong. Neumann has complied with the discussions that they have had and Neumann had ultimately complied to his wishes as he decided to step away from a company that he had created in the year 2010. He though still continues to be associated with the company and Marcelo says he finds Neumann’s inputs useful.