WeWork Was Hardly a “Self-Sustaining Business” Before Coronavirus Hit. Its Prospects Now Are “Incredibly Gloomy”
NREI Online
It’s as if co-working giant WeWork absorbed the initial jolt of a 7.0-magnitude earthquake and continues to be rocked by aftershocks. In August, WeWork’s New York City-based parent company filed for an IPO. But only a month later, co-founder Adam Neumann stepped down as CEO and the company yanked the stock offering after the IPO paperwork exposed significant financial and structural problems. Then, in November, the company laid off 2,400 employees….