WeWork Cut Forecasts as CEO Asked Employees to Change ‘Spending Culture’

  • Sales, profit forecasts revised lower in April review document
  • CEO says WeWork needs to do better ‘managing the nickel’

Adam Neumann, CEO of WeWork’.

Photographer: Theo Wargo/Getty Images for iHeartMedia

WeWork Cos., one of the most valuable venture-backed private companies, cut forecasts earlier this year and told employees it has to change its “spending culture” to continue to thrive, according to a company document and video recordings obtained by Bloomberg.

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