article thumbnail

SoftBank Faces Legal Heat as WeWork’s Creditors Seek Recovery Amid Bankruptcy Fears

Allwork

The committee accuses SoftBank and a coalition of creditors, who hold 62% of WeWork’s unsecured notes, of orchestrating a debt restructuring in May 2023. The ongoing WeWork struggles are reshaping the coworking sector by creating opportunities for many of its top competitors.

Legal 220
article thumbnail

WeWork Noteholders Furious Over Lack Of Bankruptcy Progress

Allwork

An ad hoc group of WeWork’s noteholders has expressed their ongoing frustration over the perceived stagnation in the company’s bankruptcy case, highlighting the absence of negotiations and any significant progress since they agreed to a hearing adjournment 10 weeks ago. According to a report published by Pitchbook , the group has criticized WeWork’s (..)

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

WeWork Accused of Dodging Millions in Rent

Allwork

In a recent court filing , as first reported by BisNow , the withholding of rent payments is being cited as a negotiation tactic used by WeWork to put pressure on landlords during lease negotiations — potentially violating U.S. bankruptcy code, which doesn’t allow companies to ignore rent payments.

article thumbnail

Starbucks And A Labor Union Are In Disagreement

Allwork

What’s going on: Despite the backlash for its stance against unionizing, Starbucks disclosed that the labor union representing some of its establishments declined to attend physical bargaining sessions and instead asked for hybrid negotiations. Starbucks Workers United, a union which represents thousands of U.S.

article thumbnail

New York City Tests Four-Day Workweek Pilot for City Employees

Allwork

According to the city’s official announcement, the pilot program was organized in collaboration with the flexible work committee established in its DC 37 contract agreement. The approach was designed to ensure employees continue to work the same number of hours as in a traditional five-day workweek.

2025 282
article thumbnail

Governments Are Pioneering the Flexible Work Revolution

Allwork

As evidenced by recent negotiations involving federal governments and New York City’s largest municipal union, flexible work conditions have become the bedrock of the contemporary public sector workspace. As negotiations with PSAC, AFGE, and DC 37 revealed, workers value the ability to work remotely or follow a hybrid schedule.

article thumbnail

Republic of Korea to join Horizon Europe programme

Workplace Insight

Iliana Ivanova, Commissioner for Innovation, Research, Culture, Education and Youth, and Lee Jong Ho, Korean Minister for Science and Information and Communication Technology have concluded negotiations on Korea’s association, marking a significant milestone in our commitment to foster mutual collaboration in research and innovation.

2025 59