WeWork has entered the next phase of its cost-cutting under SoftBank Group's stewardship.
The coworking startup is looking to back out of as many as 100 newly signed leases, which would be at least 10% of its global footprint, The Information reports. New leases were among the biggest expenditures for WeWork in the third quarter, when it reported a loss of $1.25B after its IPO saga resulted in the removal of co-founder Adam Neumann as CEO.
Read Full Article: https://www.bisnow.com/national/news/coworking/wework-backing-out-leases-selling-conductor-managed-by-q-102225
There are several contributing authors here.