WeWork Executive Chairman Marcelo Claure said the office-sharing company was on course to have positive cash flow in 2021, a year earlier than a target the company set in February, the Financial Times reported on Sunday.
Claure, in an interview with the newspaper, said WeWork has seen strong demand for its office spaces since the start of the coronavirus outbreak.The SoftBank-controlled company has also reduced its workforce by more than 8,000 people, renegotiated leases and sold off assets to reduce its cash burn and shed costs, FT said.
The plan included a target of reaching operating profitability by the end of next year and Claure told the FT that WeWork remains on track to meet it.
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