WeWork Has Multi-Million-Dollar Severance Deals for Co-CEOs

As WeWork, the beleaguered office-sharing startup, prepares to fire thousands of rank-and-file staff to cut costs, its board has agreed on severance packages for its co-CEOs if they leave, according to people with knowledge of the matter.

In the past week, WeWork’s board signed off on exit deals for Artie Minson and Sebastian Gunningham in the multimillion-dollar range, said one of the people, who requested anonymity because the agreements are private. The severance arrangements were negotiated as SoftBank Group Corp. bailed out the company and on Tuesday named one of its executives, Marcelo Claure, as WeWork’s executive chairman.