WeWork

The We Company, once known as WeWork, will revert its name back to WeWork.

"We want to be strategic. We want to be innovative. We want to be impactful. We want to be WeWork," so the new CEO of the once and future WeWork, Sandeep Mathrani in the internal memo seen by Reuters.

The "We" brand was first introduced in January 2019 as the parent company of shared office provider WeWork to broaden its brand from shared office spaces to a lifestyle company.

WeWork co-founder Adam Neumann sued SoftBank, its biggest investor, over the Japanese company’s decision to scuttle a $3 billion deal to buy stock from employees and other shareholders.

Bloomberg reports Neumann contends that SoftBank Group relied on legally faulty pretexts to renege on its agreement to buy the office-sharing company’s stock as the conglomerate’s financial position weakened, according to a copy of the complaint.

WeWork, an office-space provider, has laid off more employees on Thursday after cutting thousands of jobs last year after the company's failed IPO. Affected departments include sales, business operations and product. The coworking company has been struggling to fill their offices with the Covid-19 lockdown and shelter-in-place-order.

London based employees were informed that WeWork would begin the 45-day consultation process required by UK law to lay off UK staff. A total number of recent lay offs has not been made public.