Read the memo WeWork's new chairman just sent to all staff laying out its 5 year plan using the NYC marathon as a metaphor
Chairman Marcelo Claure is presenting a five-year strategic plan to the office company's board on November 19.
I ran the New York City Marathon last Sunday. I'm a big guy, and it may not have been the prettiest sight, but I finished — and while challenging, it was extremely rewarding. I got to see all five boroughs of New York from the ground up, running alongside people from all around the world. And as I ran, I realized that we serve a group of companies and individuals as diverse as New York itself — from startups in Brooklyn, to enterprises in Manhattan, to day-one entrepreneurs in Queens.
This conversation is hard: I have heard complaints about people acting in a manner that does not meet our behavioral expectations. When we hear about an issue, you have my commitment that we will investigate it and act on our findings. By way of example, we recently investigated complaints of abuse of our vendor selection and management processes. Upon completion of these investigations, we terminated the employment of 13 employees across Latin America and U.S., Canada and Israel .
I know that this has been a very difficult time. Layoffs and restructuring are on everyone's minds — and how could they not be? These are the toughest decisions we have to make, but the unfortunate reality is that we will have to complete layoffs in the next several weeks. Our top priority is treating those who will ultimately leave us with dignity and respect including fair severance packages and continuation of benefits that allow them to transition to the next phase of their journey.
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