Layoffs have become a common phenomenon in these unprecedented times. The coronavirus has impacted several businesses, forcing them to resort to tough measures like cost cutting and downsizing. The recent company to fall in the crisis is shared office space startup, WeWork. Recently, WeWork India said that it has laid off nearly 20% of its…
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WeWork names Shyam Gidumal as Chief Operating Officer
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•Office-sharing startup WeWork recently named former Ernst & Young executive, Shyam Gidumal as the company’s new Chief Operating Officer. Shyam’s appointment is the first major appointment under the new Indian-origin CEO Sandeep Mathrani. Earlier in February, real-estate expert Mathrani was appointed as the Chief Executive Officer by the company. In a statement, CEO Mathrani said,…
2019, a dramatic year of top management changes
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•2019 was a very dramatic year for the business ecosystem. A global economic slowdown, reduction in profits and bankruptcy filing by many companies. But there was something else also going on behind the closed doors of corporate headquarters. Last year witnessed resignations of many top executives from big companies and start-ups. While this could be…
Why fired CEOs get multi million dollar severance packages?
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•WeWork to lay-off 2,400 employees globally
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•Cash-strapped WeWork will be laying off 2,400 of its employees, which account for upto 20% of its workforce. This move has been much anticipated for some time now – after the company was taken over by – SoftBank. The company that once saw a valuation of $47 billion has now been under severe financial pressure,…