Good morning, PR pros:
WeWork has withdrawn its IPO, and other tech darlings are struggling to preserve staff morale.
Uber employees report sagging spirits as the company has cut positions and perks since going public. The company held a flashy press event to bolster its reputation and market position, but many critics still aren’t ready to buy in.
The IPO market has tightened, and communicators will have their hands full trying to convince skeptical investors that they’re offering the next Facebook or Google. When you are ready to woo investors, don’t overpromise, and make sure you have the right leadership team in place to project stability and long-term profitability.
Here are today’s top stories:
When the Swiss bank’s head of wealth management, Iqbal Khan, planned to leave for rival UBS, its COO Pierre-Olivier Bouée had Khan put under surveillance. The invasion of Khan’s privacy along with other mysterious aspects of the incident have caused a scandal prompting Bouée’s departure.
The bank has apologized and acknowledged that the incident has damaged its reputation.