Blog - Las Vegas Commercial Real Estate - Greg St. Martin

WeWork Burned Half A Billion Dollars In Cash In Q3

11/16/2020

WeWork burned through $517M during the third quarter of 2020 as the company struggles against coronavirus pandemic-inspired headwinds that have dealt the coworking business model a body blow.

The company's cash reserves, plus commitments from major investor SoftBank, now stand at about $3.6B, down from about $4.1B at the beginning of the third quarter, the Financial Times reports, citing an email from CEO Sandeep Mathrani to WeWork employees.

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