TriNet Enters into Exclusive Agreement with WeWork as HR Services Partner to WeWork Members in the U.S.
TriNet (NYSE: TNET) has announced an exclusive partnership with WeWork (NYSE: WE) to serve as its professional employer organization (PEO) partner in the United States.
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Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
TriNet (NYSE: TNET) has announced an exclusive partnership with WeWork (NYSE: WE) to serve as its professional employer organization (PEO) partner in the United States. This collaboration allows WeWork's small and medium-sized business members to access TriNet's full-service HR solutions. Additionally, TriNet employees and its 23,000 SMB clients can avail discounted WeWork All Access memberships. This partnership aims to support the shift towards remote and hybrid work models, enabling businesses to operate efficiently while focusing on their growth.
Positive
- Exclusive partnership with WeWork enhances service offerings.
- Access to full-service HR solutions for WeWork's SMB members.
- Discounted WeWork All Access memberships for TriNet SMB clients.
Negative
- None.
Details
News Market Reaction – TNET
The recorded move for TNET in the trading session of this news was -5.73%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
DUBLIN, Calif., Feb. 16, 2022 /PRNewswire/ -- TriNet, (NYSE: TNET), a leading provider of comprehensive human resources (HR) solutions for small and medium-size businesses (SMBs), today announced an exclusive partnership with WeWork (NYSE: WE), a leading flexible space provider, to become the company's professional employer organization partner (PEO) in the United States.
Through the partnership, WeWork's SMB members will be able to purchase full-service HR solutions from TriNet. Additionally, TriNet employees, as well as its 23,000 SMB clients—which span more than 600,000 people—will be provided with the option to purchase WeWork All Access memberships at a discounted rate.
"As the workforce overwhelmingly transitions to remote and hybrid work models, flexible workspaces can provide solutions to businesses while offering employees safety-focused and efficient places to meet, collaborate and work in person when the need arises," said TriNet President and CEO Burton M. Goldfield. "We are thrilled to partner with WeWork and provide its SMB members with HR solutions that help further enable their people and businesses to thrive, grow and succeed."
"TriNet's HR solutions complement our focus on offering the exceptional experiences and resources that empower organizations to thrive and to do their best work," said Doug Smith, Head of All Access and Marketplace, WeWork. "Our partnership with TriNet will help enable our members of all sizes to focus on growing their business, while leaving such critical HR needs to the experts."
About TriNet
TriNet (NYSE: TNET) provides small and medium-size businesses (SMBs) with full-service HR solutions tailored by industry. To free SMBs from HR complexities, TriNet offers access to human capital expertise, benefits, risk mitigation and compliance, payroll, all enabled by industry leading technology capabilities. TriNet's suite of products also includes services and software-based solutions to help streamline workflows by connecting HR, Benefits, Employee Engagement, Payroll and Time & Attendance. From Main Street to Wall Street, TriNet empowers SMBs to focus on what matters most—growing their business and enabling their people. TriNet, incredible starts here. For more information, visit TriNet.com or follow us on Twitter.
Media:
Renee Brotherton/Josh Gross
TriNet
Renee.Brotherton@TriNet.com
Josh.Gross@TriNet.com
Investors:
Alex Bauer
TriNet
Alex.Bauer@TriNet.com
View original content:https://www.prnewswire.com/news-releases/trinet-enters-into-exclusive-agreement-with-wework-as-hr-services-partner-to-wework-members-in-the-us-301483585.html
SOURCE TriNet Group, Inc.
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