Adam Neumann ’s decision to step down as CEO of the We Company does not necessarily improve the health of the firm or clear the way for an IPO , according to Bloomberg ’s Shira Ovide . The company needs a major overhaul , something that takes time and first - class management , Ovide said . WeWork’s executives and directors have not proved up to the task. She questioned whether the current board members are suitable stewards of the company , given the role they have played to date . But , WeWork needs a lot of changes , soon . Bankers and some We executives have reportedly been discussing reducing headcount by 33 % , slowing growth and shutting non - core businesses .
Adam Neumann ’s decision to step down as CEO of the We Company does not necessarily improve the health of the firm or clear the way for an IPO , according to Bloomberg ’s Shira Ovide . The company needs a major overhaul , something that takes time and first - class management , Ovide said . She questioned whether the current board members are suitable stewards of the company , given the role they have played to date . But , WeWork needs a lot of changes , soon . Bankers and some We executives have reportedly been discussing reducing headcount by 33 % , slowing growth and shutting non - core businesses .