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SoftBank seeks help from its COO to turn WeWork around: Bloomberg

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FILE PHOTO: The brand of SoftBank Group Corp is displayed on the SoftBank World 2017 convention in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo

(Reuters) – Japan’s SoftBank Group Corp (9984.T) is looking for the help of its chief working officer, Marcelo Claure, to turn round WeWork, Bloomberg reported on Friday.

Claure, who can be the previous chief government of Sprint Corp (S.N) and stays its government chairman, has been requested by SoftBank Chief Masayoshi Son to take a “more hands-on role” at WeWork, in accordance to the report, which cited folks acquainted with the matter.

Claure will help WeWork’s new management determine income and cost-saving alternatives, Bloomberg reported, including {that a} resolution on his actual position has not been made but.

The report comes as WeWork’s mum or dad We Company postponed its preliminary public providing final week after investor scrutiny over widening losses and company governance, in addition to a enterprise mannequin that depends on long-term liabilities and short-term income.

WeWork’s administrators voted on Tuesday to oust Adam Neumann as chief government after a failed try to take the office-sharing startup public.

WeWork and SoftBank didn’t instantly reply to Reuters’ requests for touch upon the report.

Reporting by Anurag Maan in Bengaluru; Editing by Sandra Maler


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