WeWork's first quarter revenue growth rate slows sharply - Business Insider

A laid-off WeWork employee carries a bag as he departs the WeWork corporate headquarters in Manhattan, New York, U.S., November 21, 2019.WeWork's revenue totaled $1.1 billion last quarter, the office-space sharing company announced in an email to staff on Thursday.

In the email, the company's chief financial officer underscored flexibility as WeWork's advantage, echoing the CEO's comments on CNBC earlier this week. WeWork's revenue growth rate slowed sharply in the first three months of the year and the company burned through hundreds of millions of dollars amid a pandemic that has caused workers to avoid offices and stay home.

The company did not provide information on occupancy rates at its vast network of offices spread in cities across 38 countries. But it said that "memberships" increased 49% to 693,000.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Q&A with Veritone One's head of podcasting - Business Insider - Business InsiderThe head of podcasting at Veritone One spoke to Insider Intelligence about how advertisers have shifted priorities in light of the pandemic's impact on podcast listening
Source: BusinessInsider - 🏆 729. / 51 Read more »

Starling is off to a fast start on relief loans - Business Insider - Business InsiderStarling has been stepping up its efforts to appeal to businesses amid the pandemic, and it's already reaping some tangible benefits
Source: BusinessInsider - 🏆 729. / 51 Read more »