WeWork is all about community. Will social distancing crash its business model?

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It was the hot idea out of the last financial crisis: Save money on office costs by bringing strangers together in hip, well-appointed communal working spaces. But can WeWork and other providers of shared office space survive social distancing?

The company recently opened an office in Woodland Hills and plans spring openings in downtown Glendale and at showbiz-centric Lantana Center in Santa Monica. A Beverly Hills branch is set to open this summer in the former headquarters of talent representative Creative Artists Agency.

For the time being, some co-working companies such as Convene have suspended operations or reduced the number of open offices. Others, including Knotel, have laid off staff and are looking for ways to quickly shed underperforming offices by cutting deals with their landlords.The Wing, a co-working provider for women, announced earlier this month that it would close its branches, including one in West Hollywood, and lay off or furlough employees in the hope of reopening in the future.

“We are going to carry the trauma of this virus risk with us for some time,” Gabriel said. People will avoid “anything that has the word ‘co’ in front of it — co-working, co-living.”

 

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Can we survive loss of one billion taxpayers dollars our governor decided to give Chinese for the masks purchase.

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They are going to do great. After this, most business will just go with work from home with occasional meetings at shared sites.

WeWork

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