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WeWork co-founder and general manager Adam Neumann faces the threat of dismissal after a few board members initiated the initiative with the blessing of Japan's leading investor Softbank, according to the latest news.
The council could meet this week to discuss the proposal to make Neumann the non-executive chairman of the company, the newspaper reported.
This would keep it within the company, while a new executive could take control of the company during the IPO process.
CNBC also announced that Softbank's CEO, Masayoshi Son, had approved the latter's request for dismissal.
WeWork and Softbank have not commented.
Softbank has invested billions of dollars in the company We based on a heavy evaluation. In 2017, Softbank invested $ 4.4 billion in the business.
Neumann is one of seven members of the board of directors. But he commands a majority shareholder and exercises the power to dissolve the board.
WeWork's news on the leadership change plan was announced when it implemented an IPO plan. He postponed the public offer to October after the potential valuation of IPOs began to plummet.
Last week, the Boston Fed president also pointed out that coworking spaces such as WeWork could be put under tremendous pressure, as losses on commercial real estate in a coworking space from the potential recession.
The company in loss of money but in full expansion wants an injection of funds that an IPO could bring. After losing $ 1.9 billion last year, analysts expect the company to run out of cash by 2020.
Conflict zones with Neumann
The Wall Street Journal reported that Neumann's leadership style was unacceptable to many investors and also cited multiple "conflict of interest" areas.
WeWork filed documents for an IPO in August. But the start-up has been criticized for its governance structure and has envisioned cutting $ 15 billion to $ 47 billion from WeWork's estimate of $ 15 billion.
The delay in the IPO of We company is a sign that investors are not very receptive to IPOs of start-ups that establish a high valuation in the private market despite the losses and that the founder has a dictatorial driving style using excessive voting control.
In order to improve the outlook for the IPO, Neumann management has made aesthetic changes to counter criticism. Neumann repaid $ 5.9 million that The We Company paid him for the word "We".
He added a new board member and also dropped the plan to allow the wife of Executive Director Rebekah to choose the next general manager of the company. 
Market Outlook and Competition
JLL's Market Outlook report on collaborative workspaces revealed a mixed bag for the market.
He said leasing to large companies would grow in line with the geographic reach of operators and expansion in the larger suburbs.
But market volatility will affect commodity players and only the strongest can survive. The ongoing demand for freelancers will complement the growing share of business users.
Acquisitions will pick up speed to add scale and reach. As costs increase and competition intensifies, margins decrease.
Present in 90 countries, WeWork's competitors are few. Regus is present in 106 countries. WeWork has 2600 coworking spaces, while Regus has more than 500 spaces.
Regus, which founded Belgium three decades ago, is now known as IWG. The other competitors of We Work are Knotel, Servcorp and Industrious.
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