WeWork's executive exit package details revealed

WeWork's current co-chief executives had potential exit packages negotiated  when Softbank took over the office space sharing firm.

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WeWork would pay out nearly $17 million to its new co-chief executives should they be fired or leave under specific circumstances, according to the Financial Times.

Co-CEOs Artie Minson and Sebastian Gunningham took over WeWork after its cofounder and CEO, Adam Neumann, stepped down.

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Neumann's exit package was $1.6 billion. Neumann's deal was also revised in a way that could continue to earn hundreds of millions of dollars.

According to documents viewed by the Financial Times, the conditions that would trigger such payouts would include should they be fired or leave under circumstances that include diminution of their duties, cuts to their pay or involuntary relocation.

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The company has laid off thousands of employees and scaled back its expansion plans following a failed initial public offering attempt.