No plans for WeWork to withdraw from S’pore or hive off business despite global losses

SINGAPORE – Troubled co-working giant WeWork intends to keep its 14 locations in Singapore open despite the severe financial pressure it is facing elsewhere.

The occupancy rate for the Asia-Pacific region was 83 per cent as at March 31, according to the company’s 2023 first-quarter results.The Straits Times reported in January 2020 thatand it is understood that the business remains in the black, despite overall losses of US$397 million for the company in the second quarter of 2023.

WeWork is also a tenant at two City Developments Limited properties – City House in Singapore and St Katharine Docks in London.

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WeWork stock plunges after company raises 'substantial doubt' about its futureThe co-working space provider warned investors that, facing losses and fleeing clients, 'substantial doubt exists about the Company’s ability to continue as a going concern,' according to its second quarter earnings report.
Fuente: YahooSG - 🏆 3. / 71 Leer más »