[FILE PHOTO: A WeWork logo is seen outside its offices in San Francisco, California, U.S. September 30, 2019. REUTERS/Kate Munsch/File Photo]Reuters * Documents obtained by the Financial Times reportedly show that WeWork's new co-chief executives Artie Minson and Sebastian Gunningham would each earn $8.3 million if they get fired or leave otherwise. * WeWork's chief legal officer Jennifer Berrent would also receive $1.5 million if ousted and would not have to repay $12 million of retention bonuses, which could have been retrieved under her previous contract. * The new exit packages were negotiated after WeWork was acquired by SoftBank, following the company's founder and CEO Adam Neumann stepping down in September. * Neumann received a $1.6 billion exit package, although the company itself has had to scale back its global expansion and let thousands of employees go. * Visit Business Insider's homepage for more stories. The Financial Times reports that WeWork would pay out nearly $17 million to its new co-chief executives if they were fired or left under circumstances that include diminution of their duties, cuts to their pay, or involuntary relocation. Documents reviewed by the Financial Times and sources familiar with the matter also said the company's chief legal officer Jennifer Berrent would receive $1.5-million if ousted under the same circumstances. The exit packages were negotiated under SoftBank's acquisition of the venture real estate company, which has laid off thousands of employees and scaled back its global expansion following a disastrous initial public offering attempt.SEE THE REST OF THE STORY AT BUSINESS INSIDERNOW WATCH: On Giving Tuesday, see how Bill Gates and Warren Buffett are changing the world like no other humans in history SEE ALSO: * Greece proposes World Court if maritime dialogue with Turkey fails * Trump retweeted the name of the alleged Ukraine whistleblower * Saudi Arabia sentences Riyadh concert stabber to death: state TV
 |
| READ THE ORIGINAL POST AT www.businessinsider.com |