WeWork is on track to have positive cash flow in 2021, a year ahead of schedule, after it cut its workforce by more than 8,000 people, renegotiated leases and sold off assets, its executive chairman said.
you are going to see WeWork to basically be a profitable venture with an incredible diversity of assets
While the shift to homeworking has seen a reduction in office space demand, some companies turned to WeWork to provide satellite offices closer to where their employees live and to spread out their staff beyond their main offices, said Mr Claure
“We have companies like Facebook, Google and Amazon who have told their employees that they can work from wherever they are. We have a lot of those employees who basically now come to a WeWork facility to use it one day, a week, two days a week, three days a week,” Mr Claure added.
After Softbank took a hatchet to that company, fired staff, sold off assets at a loss and walked away from unprofitable leases leaving landlords in the lurch. WeWork can be profitable but never at...
After Softbank took a hatchet to that company, fired staff, sold off assets at a loss and walked away from unprofitable leases leaving landlords in the lurch.
WeWork can be profitable but never at the 50 Billion evaluation that they were trying to IPO at.
After Softbank took a hatchet to that company, fired staff, sold off assets at a loss and walked away from unprofitable leases leaving landlords in the lurch.
WeWork can be profitable but never at the 50 Billion evaluation that they were trying to IPO at.