We Co., the parent company of WeWork, has reportedly been burning cash a bit too rapidly.
As of June 30th, the New York-based company reportedly had about $2.5 billion in cash, but was also reportedly spending about $700 million per quarter, and would reportedly run out of money at that rate sometime after the first quarter of 2020, The Wall Street Journal reports. Chris Lane, an analyst at Sanford C. Bernstein & Co., projected that, if We keeps growing, it go through about $10 billion in cash between 2019 and 2022.
That's probably part of the reason why the company's new co-CEOs, Sebastian Gunningham and Artie Minson are reportedly planning on cutting thousands of jobs, putting extraneous businesses up for sale, and getting rid of some unnecessary perks like the private Jet purchased by recently ousted CEO Adam Neumann.
All in all, it's a tumultuous time for We, whose leaders used to stress that the company had plenty of cash on hand and would therefore be immune to the consequences of big spending. Read more at The Wall Street Journal.Tim O'Donnell
What could be better to fight off the sweltering, late summer humidity than ... a pumpkin spice latte? Well, probably several things, but you'll at least soon have the opportunity to include the infamous Starbucks beverage among your options as August winds down.
Yes, the controversial drink will reportedly be back on the market in less than 3 weeks. Starbucks employees told Business Insider that the Pumpkin Spice Latte will be ready to order on its earliest annual launch date ever, August 27. That's weeks away from September 23, when fall actually starts.
SCOOP: Workers say Starbucks' Pumpkin Spice Latte returns to menus on August 27, it's earliest recorded official launch ever https://t.co/DXqUchDOP2
Starbucks has not officially announced the date and told Insider that they had no gourd-related news to share at this time, but employees have reportedly been posting photos of the pumpkin spice flavor syrup that arrived in stores earlier in the month, lending credence to the early rumors.