Between the well-publicized issues with its company culture and its equally publicized layoffs, some WeWork employees are worried for their careers. Some say that new job offers aren't hard to come by but feel they are being offered substandard wages. Others fear the association with WeWork's culture will affect their future job prospects. A survey of WeWork employees on the anonymous chat app Blind found that about 30% of those who took the poll have these concerns. While that indicates most employees feel that their time at WeWork is a net positive for their careers, the concern is broad enough that at least one manager addressed it head-on in a post on LinkedIn. Read more WeWork news here.
As WeWork commences its layoffs this week, some WeWork employees are concerned that their time with the company has hurt their careers. Some are worried about the impact of their association with WeWork, employees told Business Insider. This comes after the company's initial-public-offering ambitions imploded under a barrage of headlines about the hard-partying tequila-drinking culture created by founder and ousted CEO Adam Neumann — along with questions over its corporate governance, business model, and self-dealing in the executive suite. But, Business Insider previously reported, while Neumann was living large, employees under him were working long, hard hours. One current WeWork manager, who just celebrated his four-year anniversary at the company, addressed this concern head-on when he offered to help those who were cut in the layoffs. "Don't think for a second that the tumultuous headlines you've seen translate beyond the c-suite. There are a ton of driven, creative, entrepreneurial, resilient friends hitting the job market," Jesse Ganes, the director of architecture, product development, and management, wrote in a LinkedIn post on Thursday. Ganes declined to give further comment. Many WeWork employees have been looking for new jobs for months, ever since the company started warning them that big layoffs were coming. Those layoffs began in earnest this week, with the company saying that it has plans to cut 2,400 people. WeWork is also transferring about 1,000 janitorial and facilities-management staff off its payroll to roles with a contractor. One person who worked for WeWork in New York on special programs told Business Insider that getting a new job offer wasn't hard but that the offers were for salaries smaller than at the WeWork job. "Everyone knows where we are, so the lowball offers are coming strong. It's like a drip campaign; everyone knows that everyone applying who works at WeWork can be lowballed," this person said. A Blind survey A survey of WeWork employees on Blind conducted for Business Insider found that others share these sentiments. Blind is the anonymous chat app for employees that validates work email addresses but does not reveal the person behind the username. In a survey of 230 respondents, 38% said they worried that negative perception toward the company would hurt their career. This also means that 62% were not concerned. About half the people who responded said they feared that layoffs would affect them. Likewise, 132 people responded to a poll asking them if working at WeWork would negatively affect their compensation from their next employer. Sixty-eight percent of respondents were actively looking for a new job, and 30% said they were, in fact, worried about lowball offers. Interestingly, that worry was more intense for folks with nontech roles, 34% versus the 26% for those who had tech roles. Demand remains high for skilled programmers and IT professionals. Equally interestingly, 81% of the people with tech roles said they were actively seeking a new job. WeWork did not immediately respond to a request for comment. Are you an insider with insight to share? Contact Julie Bort on encrypted chat app Signal at (970) 430-6112 using a nonwork phone (no PR inquiries, please), or email at firstname.lastname@example.org. Open DMs on Twitter @Julie188.
Now read: Sex, tequila, and a tiger: Employees inside Adam Neumann's WeWork talk about the nonstop party to attain a $100 billion dream and the messy reality that tanked it People have noticed WeWork's 'sad' empty booth at a big software developer conference WeWork layoffs began on Monday, sources say, with one person calling it a 'small mercy' WeWork's toxic phone booths were created in-house by its Powered by We business Join the conversation about this story » NOW WATCH: How to find water when you're stuck in the desert
More like this (3)
WeWork is rolling out global layoffs over Zoom as the coworking giant struggles to cope with coronavirus fallout
WeWork has started global layoffs as the coronavirus pandemic ravages the office industry, with sales, physical...WeWork has started global layoffs as the coronavirus pandemic ravages the office industry, with sales, physical product, operations, and other groups seeing cuts on Thursday. Other venture-backed competitors, including Knotel, Industrious, and Convene, have laid off hundreds as the pandemic drives down demand for office space. Earlier this month, WeWork's outsourced cleaning provider, JLL, laid off some cleaning staff in response to the pandemic. ...
SoftBank is backing out of its plan to buy $3 billion of WeWork shares, including nearly $1 billion from former CEO Adam Neumann
SoftBank is abandoning its plan to buy $3 billion worth of WeWork shares from other investors...SoftBank is abandoning its plan to buy $3 billion worth of WeWork shares from other investors and employees, including some $970 million worth from company cofounder Adam Neumann. The move likely means WeWork itself won't be able to tap into a $1.1 billion credit line from SoftBank. The share purchase effort and credit line were part of the WeWork rescue package SoftBank announced last...
WeWork launches sweeping newspaper ad campaign in 12 major markets to restore confidence in shaken business
WeWork is launching a major ad campaign on Friday, two weeks after Maurice Levy was named...WeWork is launching a major ad campaign on Friday, two weeks after Maurice Levy was named WeWork's interim chief marketing officer. The campaign, which features ads that will be printed in a dozen big markets, touts the office company's people focus. For more stories about WeWork, click here. WeWork is running a major ad campaign in print newspapers in a dozen markets starting Friday...